Brandon Griffing - Broker Associate

🏡✨ Austin Real Estate Update: The October 2023 market report is in, revealing a 7.5% drop in the median home price to $435,000, making it an opportune time for buyers! 👇🏽
📉 Despite a slight dip in sales dollar volume, there's a 4.1% increase in total residential sales, showcasing the resilience of our housing market.
📊 With homes spending an average of 68 days on the market, buyers are navigating with increased negotiating power.
💪🏽🏠 As we round out the year, the housing inventory increased to 3.2 months, offering diverse options for prospective homeowners.
📈💼 Clare Losey, ABoR's housing economist, reminds us that despite the decrease in median price, it's still 44% higher than in September 2018, underlining the long-term value of homeownership.
🌐💰 For a deeper dive into the data and insights on Austin's housing challenges, check out ABoR's latest research report. 📚🏡

Let's keep working towards a more accessible and inclusive housing market for everyone! 🤝🌆

Great news for homeowners! 🏡✨ Proposition 4 has passed, marking a significant win for property owners in Texas. The amendment authorizes the legislature to set a temporary limit on the maximum appraised value of real property (other than a residence homestead) for ad valorem tax purposes. Additionally, it increases the exemption for residence homesteads from $40,000 to $100,000, providing substantial tax relief. The adjustment of limitation on school district taxes for elderly or disabled homesteads is also part of the positive changes. Thanks to the overwhelming 83.43% support, Texas homeowners can look forward to enhanced ad valorem tax benefits. 🎉🏠