Keepin’ it real estate 🏡

2023 predictions for Austin real estate

A view of the Austin skyline and Lady Bird Lake on a sunny day.

The average house price in Austin has not changed since last month. | Photo by ATXtoday

There aren’t enough flame emojis on the Internet to describe the Austin housing market. In 2022, the median home in Travis County sold for $529,000 — thankfully less than a 1% jump in price year-over-year. Phew. 🔥

After some seasonal adjustments announced at the 2022 Central Texas Housing Summit over the summer, prices are continuing on the same trend they have been since July 2022: a slow, hard-to-predict cooldown. But for those hoping to dip their toes in the home buying waters soon, it helps to know what to expect. Put on your floaties, and let’s hear what the local experts predict.

An overhead view of dozens of Manor homes and driveways. — The Whisper Valley neighborhood in Manor has homes starting in the low $400,000s.

Stayin’ trendy

Ashley Jackson, president-elect for the Austin Board of Realtors, said the theme of 2023 is a lack of inventory paired with unwavering demand. Austin is sitting at 2.9 months worth of housing inventory — less than half of what is considered normal by the Texas A&M Real Estate Center. That means the further away you get from the urban core, the more options you’ll have.

Look to the suburbs

Buyers hoping to find areas with less competition may want to think about getting a sweet pad in the suburbs. While median home prices for single-family homes in Austin are well above $400,000, Melissa Hudson, a local realtor with eXp Realty said places like Cedar Park and Taylor could get you more space for less. Hudson said prices may be more palatable in nearby cities of Elgin and Uhland.

Worth it to wait?

Both Jackson and Hudson expect that with interest rates likely rising soon, Austinites are unlikely to see a major dip in the market anytime soon. In fact, Jackson predicts that if interest rates drop and push housing prices down, we could see a renewed spike in demand, since the city is still in a housing shortage.

MORE HOT REAL ESTATE TIPS

Give us your predictions: Over the next six months, the real estate market here will…

A. Heat up even more
B. Level off and stay about the same
C. Start to cool off a bit
D. I have no earthly idea

LET US KNOW

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Tuesday, Dec. 20

The Department Of The People + Process | Now-Saturday, Feb. 25 | 10 a.m.-6 p.m. | George Washington Carver Museum, 1165 Angelina St., Austin | Free | This interactive art exhibition examines questions of authority and the sovereignty of the human journey.
Donate at We Are Blood | Now-Thursday, Dec. 22 | 8 a.m.-6 p.m. | We Are Blood, 4300 N. Lamar Blvd., Austin | Free | For a limited time, blood donors will receive a free Alamo Drafthouse movie ticket for their donation.
Fortlandia | Now-Sunday, Jan. 29 | 9 a.m.-5 p.m. | Lady Bird Johnson Wildflower Center, 4801 La Crosse Ave., Austin | $15 | Pick up a passfort and transport yourself to another realm at this annual exhibition of secret hideouts.
Ice Skating at the Long Center | Now-Sunday, Jan. 1 | 3-10 p.m. | The Long Center for the Performing Arts, 701 W. Riverside Dr., Austin | $15 | Step aside, Rockefeller Center — this ice skating rink is serving up popcorn, cocoa, and hot toddies in full view of the Austin skyline.

Friday, Dec. 23

Winter Wanderland | Now-Sunday, Dec. 25 | 12 p.m. | Austin Motel, 1220 S. Congress Ave., Austin | Free | Enjoy photos with Hunky Santa on Thursdays, movie screenings on Fridays, caroling on Saturdays, and pop-ups on Sundays at this month-long event.

We have a calendar filled with events and activities you can plan for in advance. Click the button below to bookmark ideas for upcoming date nights, family outings, and time with friends.

100+ MORE EVENTS

Weather

54º | Cloudy | 10% chance of rain

Sports

After three seasons with the Texas Longhorns, running back Bijan Robinson is entering the 2023 NFL draft. Bijan still had two years of eligibility left, but mock drafts predicted he could be pick No. 5, 10, or 25 in April. 🏈 (Austin American-Statesman)

Coming Soon

Emmer & Rye Hospitality Group is delivering a new restaurant celebrating Israeli cuisine in spring 2023. Called Ezov — one of the ingredients in za’atar — the restaurant will be led by Executive Chef Berty Richter and open on 2708 E. Cesar Chavez St.

Austinite

Roy Spence has been named “Austinite of the Year” by the Greater Austin Chamber of Commerce. As co-founder of advertising agency GSD&M — which has served clients including Southwest Airlines, The PGA Tour, and the U.S. Air Force — Roy will be honored at the chamber’s Wednesday, Feb. 8 meeting. (Austin Business Journal)

Eat

You deserve to eat like an influencer. Local food writers — including A Taste of Koko’s Jane Ko and Texas Monthly’s Pat Sharpe — dished on their favorite meals of 2022, from Peking duck at Bamboo House to innovative veggies at Lutie’s. 🍜 (Eater Austin)

Environment

Once you’re done decking the halls, what are you going to do with your live tree? Austinites can recycle trees through curbside pickup or drop off at Zilker Park starting on Monday, Dec. 26. Find out how. 🎄 (KXAN)

Ranked

We’re pretty lucky in Central Texas — Travis County didn’t make the list of top 20 counties most likely to be hit with a natural disaster. However, it did rank No. 21 with a risk index score of 22.92, compared to the Texas average of 12.89. (KXAN)

Plan Ahead

Legendary Texas musicians Willie Nelson and ZZ Top are going “On the Road Again” to join forces for the concert of a lifetime. In mid-April, the icons will take the stage at the New Braunfels Whitewater Amphitheater. Get tickets here. 🎙

Learn

You know how to order coffee at Jo’s Coffee. But can you order coffee in Italian? Babbel can help ATXtoday readers learn how to order coffee (and other beverages) in Italian, so they’ll be ready for their next trip to Italy. Want to try it out? For a limited time, snag 55% off your subscription. ☕ *

Travel

Craving a trip? How about famously foggy mornings, boutique shopping, and Michelin-starred restaurants in San Francisco? We love this Presidio Heights two room + bath suite for its central location, cleanliness, and bay window breakfast nook. 🌉*

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City

Austin’s atomic numbers ⚛️

A view of a nuclear power plant spilling clouds of water vapor.

Those clouds are clean water vapor, not smoke. | Photo via Unsplash

You might have heard some big news in clean energy lately: scientists in California managed “fusion ignition” for the first time ever. All this might cause some confusion, so let’s make it nuclear.

Fusion shoves atomic nuclei together. It’s how stars get their power. Fission splits atoms apart.
About 20% of electricity generated nationwide already comes from fission, according to the Department of Energy. That 20% is produced by just 92 nuclear reactors. Did you know the nearest one is the South Texas Nuclear Generating Station, located in Bay City (~3 hours away)?
Ignition just means they got more energy out of the reaction than they put in — fusing atoms is hard work.

Putting it all together: fusion reactions have the potential to produce much more energy than fission reactions, and produce only helium (read: no radioactive waste). Ignition is a big step in that direction.

So, if you happen to know any nuclear engineers, make sure to say congratulations.

THE WRAP

Today’s issue was written by Figi.

Editor’s pick: Howdy, fellow Austinites. 👋 It’s about to get cold, and as someone who comes from a place with snow, I wanted to give you some useful tips if you’re worried about a potential freeze this weekend.

Drip your faucets and cover outside pipes when the temperatures drop below freezing to avoid pipe breakage.
Put on a sweater and block drafty doors with towels or blankets to avoid cranking the heat.
Bring any and all possible plants inside, and cover outside plants with a tarp or cloche.
Charge external batteries in case of emergency.

Missed yesterday’s newsletter? Get the lowdown on Austin biggest employers.

Connect with us.

Editorial: Laura Figi, London Gibson, Dayten Rose, Josh Kranzberg, Emily Shea | Send us a scoop, question, or feedback.

Sales: Camille McLeod | Advertise with us.

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