Articles

October 2023

Your Guide to the Central Texas
Real Estate Market 

REAL ESTATE MARKET REPORT

AUSTIN, Texas — In September, the Austin–Round Rock MSA housing market continued to return to normal activity with more available supply and a softer appreciation of home price growth according to the latest Central Texas Housing Market Report released by the Austin Board of REALTORS®. Home sales declined 18.5% to 2,992 closed listings as active listings were up 162.4% to 9,671 listings—the highest number of active listings in the MSA since July 2011.

Vote Early or on Election Day

WHERE: Residents of Travis and Williamson Counties can vote at ANY polling place in their county. Locations and wait times are available at the following county voter information websites.


Travis County: 
VoteTravis.com 


Williamson County: 
Wilco.org/elections 


WHEN: Early voting is available October 24–November 4; times and locations may vary.

On Election Day (November 8), polls are open from 7:00 a.m. to 7:00 p.m.

Bring Photo ID
You must use one of seven forms of ID to vote: 

➤➤ Texas driver license
➤➤ Texas Election Identification Certificate (EIC)
➤➤ Texas identification card issued by DPS

➤➤ Texas handgun license issued by DPS

➤➤ US military identification card with visible photograph
➤➤ US citizenship certificate with visible photograph
➤➤ US passport (book or card)

Steps to Boost Your Credit Score

Here are four steps to improve your score and increase the chances you’ll qualify for a favorable mortgage loan.


CHECK YOUR CREDIT REPORT 

Verify that the items listed on your report—especially the negative ones—are correct. If there are mistakes, correcting them is an easy way to help your score. You can order free copies of your credit report at annualcreditreport.com.


PAY OVERDUE ACCOUNTS 

Past-due balances are very damaging to your score. Pay off
the debt or at least negotiate a plan to get those accounts current. Once current, those accounts will stop adding negative information to your credit report and can generate positive credit-score movement.


USE LESS OF YOUR AVAILABLE CREDIT 

Carrying a $2,000 balance on a Visa card with a $3,000 limit isn’t going to help your credit profile. Try to pay down those balances, if possible, to less than 50% of your available credit. Another option is to ask for a higher limit. If Visa raises the limit on that card to $6,000, your balance looks better—as long as you resist the urge to add to the balance on that card.


DON’T CLOSE ACCOUNTS 

This one is counterintuitive but closing a credit card account lowers your available credit. Keep that card active and set it up to autopay one or two small, recurring bills, such as your Netflix membership.

The median price of all MLS sold listings in central Texas has increased year-over-year from 2021 to 2022.  However, the median price over the past few months has declined when compared to the median price in the springtime.

The total number of MLS listings in central Texas has skyrocketed during 2022 to nearly 10,000 active homes on the market.  This number is slightly higher than in 2018.  However, the population of central Texas is much higher in 2022 than 2018 so more listings are needed for buyers looking to purchase a home.
 
Currently, central Texas has 3.5 months of home inventory.  Six months of inventory is needed for a stable real estate market so more listings are needed to create a balanced market between buyers and sellers.

A Metroplex is Forming Between Austin & San Antonio

Austin and San Antonio will grow together in a fashion similar to Dallas and Fort Worth creating real estate opportunities for investors.
 
The chart above shows the population growth of the notable cities that will one day make up or metroplex.  The growth rates reflect the population increases since 2010.  Doubling in size in just 10 years is a reality for some.

New Development in Cedar Park

Bell District is being developed in Cedar Park on Bell Boulevard between Buttercup Creek and Brushy Creek Road and West Park Street. 
 
Bell District will have: a library, about 30,000 sq. ft. of restaurant and retail space, roughly 250-300 apartments and 16 acres of green space.  The first buildings are scheduled to open potentially as soon as 2024.

HORIZON REALTY has helped buyers and sellers in Austin and surrounding areas with their real estate needs since 1999. The success of the company stems from ensuring a positive real estate experience for both agents and clients. 
 
Currently HORIZON REALTY sponsors over 100 professional REALTORS® spanning a variety of real estate services from residential and commercial sales to leasing and property management.  
 
Outside of real estate, HORIZON REALTY has been an active sponsor and contributor to programs such as Coats for Kids, Soles for Souls, The Miracle Foundation, the Capital Area Food Bank and Toys for Tots.