Skip to main content

Per local Treat Oak Property MgMt; Austin Metro Rental Statistics: February 2024

 Hi George-Vance,


Happy Spring! As we enter into the 2024 Leasing Season (March - June), I’m excited to share the most recent leasing stats from the Austin Metro area. I have been closely monitoring our investor and rental market activity and am including the February 2024 statistics in this newsletter along with observations and notes.


February 2024 SFR and Duplex Rental Stats below: 



VJ_-MJuZ_U6xJgSBmqs7FytRMPmxfO-I68TRRHzCSVd6Ngc59KsrSCJNeANNiQZzlh7AHRS2OlumIBnlqggxAXJJU-bVsBfHONWs4vC3TeG7A3O9rCVZQPO8JBQ9PFQajMrgAeBWl7-Div88nl8wPg8

 


February 2024 Takeaways:


  • INVENTORY, INVENTORY, INVENTORY! February 2024 had a significant increase in rental inventory year over year. For a winter month, when true rental demand is often only just starting to just simmer for the new year, 17% increased SFR and 29% increased Duplex inventory are large amounts. Amounts that certainly put me on high alert. I’ve included a graph below to show the inventory and leased listing trends.

  • WHAT ABOUT RENTAL DEMAND? The Austin-Metro area is showing more signed leases, quite consistently, year over year. That TOTAL LEASES number on the top right column of each chart above confirms this. These numbers indicate that rental demand has continued to increase year over year. It can feel contradictory, to some, to say that we experience agonizingly long days listed on the market and in the same sentence, note that rental demand is up. But, both can be and are factual in this case. 

This rental demand take-away is important to understand, as the combination of increased inventory and increased DOM can, in some cases, cause owner/investor insecurity within the rental market. Personally, I see this as another coachable opportunity to set my client expectations on how to accurately price/market vacant lease listings, as well as how to successfully approach renewal offer strategy with well performing tenants. 

Remaining focused on eliminating vacancy and tenant retention will always produce the best rental performance results, regardless of the market conditions.


91RD641DBU4HQshk02JnFpAMOYXJ4sRcTw9kygVw9RV4pYkYz8uyiL25eR9meNEMY5o4vSEu_whqcCV19j87MNSBA0IzYt5VyNQAMGOprEixkhC5dgRblwfYw1393HXmk_SK1OPdksuN2B0kexuCgQo




Quick Maintenance Tip: Continued Spring Cleaning this month! Clear out rain gutters and drainage systems. Continue to adhere to watering restrictions. Mulch garden beds, spread grass seed/fertilizer and troubleshoot irrigation systems. Be alerted to community bulk trash and compost pick up.


If you are a landlord, Realtor or a property owner with questions, please reach out. I would love to be a valuable resource for your successful landlord experience, or to help your clients achieve their investment goals. 


I hope you enjoy some fun Spring Break activities and warmer weather. I will be back with more in April!


Thank you,




Adrienne Laosa

Managing Partner | Treaty Oak Properties

(512) 913-0870

treatyoakproperties.com

Comments

Post a Comment

Popular posts from this blog

Austin, Texas has a DOG PROBLEM.....

  Austin, Texas has a DOG problem (Letter I wrote and sent) Dear Austin City Council Members, Hello and well regards, Yesterday afternoon during a simple bicycle pedal exercise ride, I was physically chased by an unleashed Pitbull dog in ZILKER PARK. Then directly after recovering from almost being mauled by an unleashed pit-bull in Zilker Park, I attempted to buy a Gatorade at a nearby Barton Springs Road Market, but that didn't go well either, as an interior Market commercial customer had a massive mixed breed dog trolling through the diminutive shopping isles. Then this morning, at a Coffee shop on SoCo, there was only 1 entry way in and out, and there was another large, although more docile mixed breed dog. All of this has occurred in less than 24 hours. What's the point? The City of Austin's dog friendliness and citizen enabling of irresponsible dog owners has gotten out of control. Newsflash! Not everybody like dogs, being everywhere all the time. especially within ...
3 comments
Read more

Austin American Statesmen's Lead Sports Reporter, Quotes Local Real Estate Broker & Texas Hoops fan, George Vance McGee in Amazing Aggie Comeback Victory.

 Austin American Statemen's Lead Sports Reporter, Quotes Local Real Estate Broker & Texas Hoops fan, George Vance McGee in Amazing Aggie Comeback Victory. Jan. 27th, 2025 in newspaper print. 
Post a Comment
Read more

Per Austin Business Journal, Former UT, NFL quarterback Colt McCoy launches real estate career in Fort Worth, Texas

 Former UT, NFL quarterback Colt McCoy launches real estate career in DFW He'll lead Fort Worth office of Austin-based firm with aspirations to do it all Former UT, NFL quarterback Colt McCoy launches real estate career in DFW. Jan. 7th 2025 Former Texas Longhorns quarterback Colt McCoy is getting into commercial real estate. HPI Bill Hethcock By Bill Hethcock – Managing Editor, Dallas Business Journal Jan 7, 2025 Former University of Texas and NFL quarterback Colt McCoy is launching a commercial real estate office in Fort Worth for Austin-based HPI. The Fort Worth office is scheduled to open this month, and McCoy is working to recruit its initial team, the former Longhorn standout, two-time Heisman Trophy finalist and 14-year National Football League QB said in an interview with Dallas Business Journal. It’s too soon to reveal the address of the Fort Worth office, but he expects an announcement soon. "This presents a lot of opportunities for me to build my own business and to...
Post a Comment
Read more