Don't freak out Austin (and don't be idiots, media pundits!)

Well now, let’s have a real talk about this whole “Austin is slowing down” notion. As seasoned professionals with Adam Timothy Group, we’ve got a front-row seat to this real estate rodeo, and let us tell you, the show’s far from over. Now, we can’t help but chuckle when we hear folks saying the market’s cooling off because our home values aren’t soaring to the moon like they were during the pandemic. And sure, there’s a smidge less migration — maybe enough to notice you’re not bumping elbows with someone new every day.

But here’s the inside scoop: Austin’s still the place to be, and those ‘steady’ home values? They’re a sign of a market that’s matured, not stumbled. And if you’re thinking of making a move or snagging a piece of this fine city, Adam Timothy Group is the name you should remember. We’ve got the expertise, the style, and the savvy to guide you right. So, for those looking for a laugh and a lesson in why this city’s real estate is still a hot ticket, come on over to our side — we’ve got stories that’ll educate, entertain, and help you invest smartly. Austin’s just fine, y’all, and we’re here to help you make your mark.

Now here is the latest from TCAD, those mysterious analysts that determine home values that in turn drive taxes for homeowners like us and our clients.

The latest figures from the Travis County Appraisal District reveal a trend that’s sparking conversations among homeowners, buyers, and real estate analysts alike: Austin’s home values have declined for the second consecutive year. Despite this recent dip, the data shows that property values remain significantly higher than pre-pandemic levels.

The median market value of a residential homestead in Travis County as of 2024 stands at $551,419, a notable decrease from the previous year’s median of $592,819. This downward movement marks a continued shift from the peak of $632,208 in 2022. However, when we take a broader perspective, it’s clear that Austin’s real estate market has experienced substantial growth over the last decade. For instance, comparing the 2024 median market value to that of 2019 ($355,836) illustrates an increase of over 50%, highlighting a significant appreciation in property values over a five-year period.

A similar pattern is observed in the median taxable values, with the 2024 figure at $401,806, down from $378,765 in 2023. Taxable values are particularly relevant for homeowners as they directly influence property tax bills. It’s important to note that while these values are lower than market values, they too have shown a robust climb from the pre-pandemic era.

This data underscores a critical point: while the past couple of years have seen a cooling off from the frenzied growth, Austin’s real estate market still stands much stronger than it did before the pandemic shook the global economy. The reasons for the recent slowdown could be numerous, ranging from rising interest rates, changes in housing demands, economic uncertainties, or simply a market correction after years of unprecedented growth.

For those considering entering the market, these trends suggest a more favorable environment compared to the highly competitive and inflated market of the past few years. For sellers, the data might be a signal to adjust expectations and strategize accordingly to align with the current market conditions.

One thing is certain: the real estate market is ever-changing, and Austin’s recent figures are a testament to that. Whether you’re a buyer, seller, or simply an observer, it’s crucial to stay informed and understand the implications of these shifts. The Travis County Appraisal District’s data serves as a valuable resource in grasping the dynamics of Austin’s housing landscape.

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