June 2015

There are 5 blog entries for June 2015.

Engel & Völkers Austin was honored to bear the torch in Austin and sponsor the Special Olympics!  Engel & Völkers North America  chose the Special Olympics as its charitable partner of choice and was the first Cause Marketing Partner of the new Special Olympics Play Unified Campaign.  Through the joint effort of all of our U.S. offices we have risen nearly $35,000 to support the Special Olympics Play Unified Campaign almost 70% of the way to our goal of $50,000.  

Yesterday June 24th 2015, the Engel & Völkers Austin team carried the torch through the streets of Austin, Texas in attempt to raise money and awareness to a great cause.  We would also like to thank the other Austin businesses who took part in the torch carrying throughout Austin.  We were

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After setting a record in April, single-family home sales dipped two percent to 2,767 home sales in May, according to the May 2015 Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®. 

Single-family home prices remained high, both setting a record for the month of May and increasing at a rapid rate that is outpacing historical appreciation, which is typically four percent annually according to the Real Estate Center at Texas A&M University. The majority of homes entering the market continue to be priced outside of an affordable price range for many residents, with only 25 percent of single family housing options in Central Texas below $200,000.

Barb Cooper, 2015 President of the Austin Board of REALTORS¨, explained,

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After the Memorial Day Weekend downpour that drenched most of Central Texas and early June rains that continued to hit the Central Texas area.  The Highland Lakes which most notably include Lake Travis have continued to rise and with the Travis hitting one of the lowest points in history in 2015, the rebound to now being only 20 feet from full is amazing.  With this rain the real estate market in Lake Travis has seen an uptick with renewed interest in Lake Travis waterfront real estate.  To take a look at all of our current waterfront properties visit us here.

The Lower Colorado River Authority expects the lake could rise as high as 670 feet by Friday, and continue rising in the coming weeks as inflows from Hill Country creeks and rivers continue.

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International luxury real estate firm, Engel & Völkers today welcomes its most recent inductees from the Austin office to the firm’s highly exclusive networking group, Private Office. They are:

  • Desmond Milvenan, Engel & Völkers Austin
  • Kathryn Scarborough, Engel & Völkers Austin
  • Michele Turnquist, Engel & Völkers Austin

Out of the 6,000 Engel & Völkers Advisors worldwide, there are now 47 who currently hold this designation, that’s 0.8% of advisors worldwide are selected. This group is expected to generate over one billion dollars in sales annually. In order to join Private Office, advisors within the Engel & Völkers international network must be nominated by their brokers and are selected based on their individual, consistent,

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“On the demand side, we are seeing traffic and searches on realtor.com® continue to set new highs,” said our chief economist, Jonathan Smoke, who did a preliminary analysis of our site’s data in May. Visits and searches are expected to be up more than 50% and 35%, respectively, year over year.

Helping create more opportunities for buyers, the listings inventory is now growing faster, at 4% over April—but it’s still down compared with last year, so buyers will need to keep on their toes. In part because of the limited inventory, the median list price increased nationally to $228,000, up 7% over the previous year and 1% over April. At the same time, homes are moving more quickly: Median days on market, now at 66, continued a sharp decline, down 11%

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