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Texas Luxury Homes Were Fastest-Growing Market Segment in 2017

Luxury real estate was the fastest-growing segment of Texas’ residential real estate market in 2017, with both sales volume and sales dollar volume experiencing double digit increases, according to the Texas Luxury Home Sales Report by the Texas Association of REALTORS®. For the purposes of the report, luxury homes were qualified as single-family home sales priced at $1 million and higher, with the statistics based on November 2016 through October …

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Continued Growth in Austin’s Luxury Real Estate Market

Despite a softer second half of 2017, real estate in Austin’s luxury markets continues to see growth, said Regent Property Group Broker Brian Talley in Community Impact’s article, Real estate market shows continued year-over-year growth despite slower second half of 2017. “The number of homes sold in the Westlake area went up, as did the average price per square foot,” Talley was quoted as saying. “I feel like we’ve leveled …

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Omni Barton Creek Resort & Spa Begins $150 Million Renovation

The Omni Barton Creek Resort & Spa revealed its plans for an upcoming renovation and expansion that is projected to cost more than $150 million. The renovation, coinciding with the resort’s 30th anniversary, will begin November 13, 2017 with an expected completion date of mid-2019.  The renovation will include adding a resort tower, redesigning guest rooms, expanding the pool scape, and providing a new lobby experience. It also will include …

Google and Facebook Expand in Downtown Austin

Google and Facebook dominate online and soon look to be major players in the downtown Austin office scene, where both are expanding their presence. Facebook already has occupied about 120,000 square feet at 300 West Sixth and recently announced it will lease about 231,000 additional square feet in a 29-story office tower under construction downtown. It previously announced it will anchor a new 345,000-square foot building at 208 Nueces Street called …

Omni Barton Creek Adding New Hotel

The Omni Barton Creek Resort & Spa will be demolishing a parking garage and additional buildings in order to build a new 10-story hotel. The new hotel at 8212 Barton Club Drive will include over 100 rooms, an almost 90,000 square foot conference center, a restaurant, and guest parking, according to the Austin Business Journal as reported by the Real Estate Center at Texas A&M University. Dallas-based Omni Hotels & Resorts plans …

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Homes in 78746 Now Average over $1 Million

Homes in the 78746 area code, one of the wealthiest zip codes in the Austin region, now average well over a million dollars, with the most recent Austin Board of Realtors® Local Market Report showing an average price for single-family homes of $1,165,984 for the month of April 2017 and $1,301,304 for year to date. This is a year over year increase of 3.4 percent and 15.7 percent, respectively. Median …

Texas Adds 9,500 Jobs in March 2017

The Texas economy added 9,500 seasonally adjusted nonfarm jobs in March 2017, according to the Texas Workforce Commission. The unemployment rate for the same month increased to five percent, up .1 percent from February 2017. Over 249,000 jobs have been added over the year, according to TWC Chairman Andres Alcantar. “Texas employers continue to boost the diverse Texas economy by adding jobs,” he said. “I encourage job seekers and students …

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Austin Luxury Home Market Gaining Steam in 2017

Austin luxury home sales gained momentum in February 2017, a positive indicator going into the new year, following what market analysts and real estate agents and brokers considered a “sluggish” 2016 in the high-end Austin real estate market. In February 2017, 41 luxury homes sold in the Austin area, 13 more homes than the previous February, according to a report in the Austin Business Journal and as reported by the …

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Lake Austin Spa Resort Offers Evenings of Insight & Entertainment

The Lake Austin Spa Resort is offering Evenings of Insight & Entertainment this Spring at the destination resort’s LakeHouse Spa set in the beautiful Texas Hill Country outside of Austin. Attendees must RSVP in advance but are not required to be guests of the resort. First up is Tastes of India with prestigious Chef Paul Bhalla on Thursday, April 13 from 5:30 p.m. to 6:30 p.m. in the Aster Café. …

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Texas Housing Weathers Rising Interest Rates

Demand for Texas housing weathered mortgage rate increases in December 2016, according to a Texas Housing Insight report authored by James P. Gaines, Luis B. Torres, Wayne Day, and Wesley Miller with the Real Estate Center at Texas A&M University. Additionally, according to the report, “strong demand overtook modest supply increases.” Prices remain one of the big stories of Texas real estate, with briskly rising prices since late 2011. The …