Connect with us

Austin, TX

Home prices in Austin have dropped $85,000 since last year, but San Antonio prices hold steady

Published

on

Home prices in Austin have dropped $85,000 since last year, but San Antonio prices hold steady


Home prices in the Austin metro area have dropped $85,000 since last year, according to a new report from Redfin.

Austin was among the pandemic boomtowns. Redfin analysts say those pandemic prices were unsustainable and “are now coming back down to earth.”

The median home price in the Austin Metro has come down 15.3% from where it was at its peak in April of 2022 — $555,000.

It’s a trend seen across the country — just not to that extreme.

Advertisement

Nationally, the median sale price fell 4.1% year over year.

In San Antonio, the drop was even less significant — about 1.3%.

In April of 2022, the median home sale price for the San Antonio market was $325,000, according to Redfin figures. It dropped to $320,604 last month.

Across the country, high mortgage rates are keeping buyers and sellers from making moves.

“Elevated mortgage rates are preventing would-be buyers from buying and would-be sellers from selling. And because sellers aren’t selling, the buyers who are out there have very limited options,” said Redfin Chief Economist Daryl Fairweather. “Home prices are faltering due to sluggish homebuyer demand, but the shortage of homes for sale is preventing them from falling as much as they did in the Great Recession. In some places, there are so few listings that prices are actually rising as a limited pool of buyers competes for an even more limited pool of homes.”

Advertisement

But Texas’ big cities, outside of Austin, are faring better than most across the country, Redfin data shows. Texas metros made the list of places with the smallest decline in new listings. The state also issued more residential building permits last year — 263,000 — than any other state.

“In the Fort Worth area, all of the new construction means buyers aren’t hindered by a lack of new listings. They’re building all over and in various price ranges,” said local Redfin real estate agent Gena Campbell. “Still, home prices aren’t low enough for everyone. Many people—especially first-time homebuyers—can’t afford to buy a home due to the rise in mortgage rates and property values.”

More on KSAT:

Copyright 2023 by KSAT – All rights reserved.



Source link

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Austin, TX

Austin's Brick Rodeo showcases Lego castle to support Ukraine rebuilding efforts

Published

on

Austin's Brick Rodeo showcases Lego castle to support Ukraine rebuilding efforts


Saddle up Lego fans! Brick Rodeo Austin welcomes thousands to this family-friendly event in North Austin from July 4th through the 7th, 2024.

Creators from all over Texas and the country have come together to show off their amazing creations! Keep your eye out for a LEGO castle replica of a nearly 400-year-old Ukrainian castle. Mark Segedie, a LEGO creator from LA, will be there with the Pidhirtsi Castle (Lviv region, Ukraine) LEGO set. The castle was constructed between 1635 and 1640, and in the 18th century, a theater was built inside the palace. Pidhirtsi Castle is also included in The World Monuments Fund’s list of 100 objects of world-historical and architectural heritage that can be lost to humanity.

Mark and other creators are coming together to help rebuild Ukraine, brick by brick, just like in their favorite game. They’ve teamed up with UNITED24 to recreate Ukraine’s stunning architectural gems in unique LEGO sets.



Source link

Advertisement
Continue Reading

Austin, TX

Music Commission considers space, funding options for Texas Music Museum – Austin Monitor

Published

on

Music Commission considers space, funding options for Texas Music Museum – Austin Monitor


Friday, July 5, 2024 by Chad Swiatecki

The Music Commission plans to ask the city to provide emergency storage space and funding for the Texas Music Museum, which is facing overcrowding at its East Austin location and the possible loss of gratis storage space in an Austin Police Department warehouse.

At Monday’s meeting, commissioners heard a presentation from museum leaders and discussed possible options for assisting the museum, which has outlined a three-phase expansion proposal to eventually occupy 13,000 square feet – a dramatic increase from its current 2,000-square-foot space on East 11th Street.

In May, museum representatives told the commission about the dire straits it is facing, with thousands of audio, video and photographic artifacts from over 100 years of Texas musicians currently in storage and at risk of deterioration. For many years, the museum has been a labor of love for Clay Shorkey, president and caretaker of the facility, who covers some of its expenses with his Social Security benefits.

The first phase of the museum’s plan seeks 13,000 square feet of display, meeting and administrative space, plus another 1,000 square feet of storage. Its funding request for staffing, operations and other expenses totals just over $333,000.

Advertisement

“We only have space for three main exhibits, and we have a small conference room that we do presentations and performances that only fit about 60 people max,” said Sylvia Morales, information strategist and policy coordinator for the museum.

“Our ask right now for phase one is gonna be at around $330,000 to keep us afloat, to keep us going where we’re initially at right now. We would love in phase two to go into … discussions of where to go next.”

Commissioners who participated in a working group related to the museum’s future suggested space in the redevelopment of Blocks 16 and 18 or in the reconstructed Austin Convention Center as possible long-term options. For the short term, the commissioners plan to work with staff to draft a realistic recommendation for City Council to allocate money from the city budget toward the museum and assist in finding a stopgap space, possibly using an existing city property or facility.

“It’s gonna be really difficult if you ask for all of this money upfront … so how about we break it up into smaller chunks and see if we can get some help that way?” Commissioner Scott Strickland said of the museum’s long-term, multimillion-dollar plans.

“It would be a lot easier for us to approve a plan that’s immediate and help Council recommend something that is more immediate versus looking at something that’s five, seven years out.”

Advertisement

Shorkey said he and other museum stakeholders have reached out to the Texas Music Office and other would-be supporters of music-related efforts in recent years, with no substantial support having yet materialized. In 2017, the state Legislature considered providing space for a state music museum in the Capitol Complex project downtown, but that effort lost support due to objections from other music museums around the state.

Chair Nagavalli Medicharla asked members of the working group and museum representatives to identify the most critical space and budget needs that could be presented to Council in a way that communicates the severity of the deadline to find a new location and financial support.

“One thing to look at is the absolute must-haves and what is on the critical path, and then next would be the nice-to-haves,” she said. “The museum has a larger vision that could see city support but probably also needs much broader support from outside of the city as well.”

The Austin Monitor’s work is made possible by donations from the community. Though our reporting covers donors from time to time, we are careful to keep business and editorial efforts separate while maintaining transparency. A complete list of donors is available here, and our code of ethics is explained here.

You’re a community leader

And we’re honored you look to us for serious, in-depth news. You know a strong community needs local and dedicated watchdog reporting. We’re here for you and that won’t change. Now will you take the powerful next step and support our nonprofit news organization?

Advertisement





Source link

Advertisement
Continue Reading

Austin, TX

War & Treaty Call Out Cotton Plant Found in Festival Dressing Room: 'It Just Shouldn't Happen'

Published

on

War & Treaty Call Out Cotton Plant Found in Festival Dressing Room: 'It Just Shouldn't Happen'


The War & Treaty have spent the last year gracing award show stages, garnering Grammy nominations, and even earning their first-ever platinum single. But for artists of color in the country and Americana space, success and acclaim doesn’t mean escaping the litany of microaggressions and racist assumptions built into these spaces of the music industry.

Last weekend, before performing at the Coca-Cola Sips & Sounds Festival in Austin, the husband-and-wife duo encountered a startling sight in their dressing room: a cotton plant. The plant was simple green room decoration, but in a recent interview with The Hollywood Reporter,  the duo discussed the ways in which the plant represented a larger issue of predominantly white spaces in the industry failing to make artists of color feel welcome or safe.

“We went back and forth, wondering if we should speak out on this incident,” the band said on Instagram, after the story’s publication. “Ultimately, we knew this issue was bigger than just us.”

In a statement to Rolling Stone, festival organizers apologized for what they called “an honest mistake.”

Advertisement

“We are disheartened that the artists were ever uncomfortable at last weekend’s event,” the statement reads. “There was no purposeful harm intended, and we sincerely apologize. Their concern was met with immediate action, including a heartfelt in-person apology, removal of the decor and a personal conversation with the artists by event organizers.”

In the interview with THR, Michael and Tanya Trotter detailed the cycle of emotions they were forced to feel after encountering the cotton plant.

“Anger is what I felt,” said Michael, a veteran. “Disrespect is what I felt. Sadness is what I felt. Sadness not just because of what that plant represents to people that look like me but sadness for myself because I am a son of this country.”

For Tanya, the daughter of a sharecropper, the thoughtless room decoration served as a harmful reminder of her family’s past. “ It’s not my position to educate anybody on what cotton is and what it represents in this country,” she said. “It just shouldn’t happen.”

Left unsaid is that of the ten artists playing the main stage over the two-day music festival, the War & Treaty were the only non-white artists amidst a lineup of white acts performing blues, soul, and rap. A representative for the Coca-Cola Sips & Sounds Festival did not immediately respond to Rolling Stone‘s request for comment.

Trending

The decision to speak out weighed on the group, now signed to a major label, that has developed a reputation (once they’ve tried to shed) of being feel-good cultural bridgebuilders ever since their 2018 debut Healing Tide. “We’re not the kumbaya cats that people may want to paint on us,” Michael Trotter told Rolling Stone in 2020. “We intentionally wanted to focus on healing with Healing Tide, but we might’ve given off the wrong impression in saying that we are the healers…We are the most hopeful cats.”

More recently, the band released its latest single, “Called You By Your Name,” a bluesy rave they performed last month at CMA Fest. 



Source link

Advertisement
Continue Reading
Advertisement

Trending