March 2016 Market Report
The Austin Board of Realtors has more great news for Austinites. ABoR’s market report for March 2016 shows that the median price for single-family homes is $278,000, which is up 8% from 2015. The average price for single-family homes has also gone up, rising to $347,734, 4.5% higher than last year. In addition, March saw a record 2,552 single family homes sold, a whopping 9% more than sold in March 2016. The infographic below (courtesy of ABoR), gives a colorful illustration of the report’s full statistic.
Summers in Circle C
Summers in Austin are the best time of year to get outside and get active – as long as you stay cool and hydrated! Luckily, Circle C Ranch is full of activities for families to partake in all summer long. This Friday, May 13, at the Circle C Community Center there will be live music and lots of food from from 5-8:30P. These community Food Truck Family Fun Nights will take place once a month throughout the summer. On the hottest of Texas days, splash around in either of the community’s two beautiful pools. The Swim Center Aquatics Facility features an outdoor Olympic size pool, along with a toddler pool which boasts its own slide and fun water features. You’ll also find a sand volleyball court, playscape, park, sports court, and refreshments at the delicious Circle C Cafe, all located at 5919 La Crosse Ave. The Community Center Aquatics Facility is at 7817 La Crosse Ave and has a recreational pool, water slide, splash pad, and lagoon.
Rising Interest Rates
Rising Rates Back in December the Federal Reserve increased its key interest rate by a quarter of a percentage point. While it may not seem like a lot now, that quarter of a percent may have a hefty impact on your life – and wallet. What to Expect Be aware that the Fed may raise the interest rate again this year, possibly as soon as June. Now is a great time to take advantage of the current rate before things start to get out of hand. Also know that depending on the size of your current loan, your monthly payment could be affected by drastically different amounts. For every one percentage increase in the interest rate, expect a 10 percent increase in your monthly mortgage payment. The current rate is hovering between 3.5 and 5 percent, making the impact on mortgage payments the lowest we have on record. The Up Side Although housing is seemingly through the roof, the low interest rates make this the best time to buy or invest in a home.
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