San Marcos - Buda - Kyle | July 2020

SANMARCOS BUDA KYLE EDITION

REAL ESTATE

ONLINE AT

2020EDITION

VOLUME 10, ISSUE 3  JULY 13AUG. 9, 2020

Realtors work tomeet demand of homebuyers

INVENTORY CHALLENGES

The number of months of inventory has remained low in the past year in Buda, Kyle and San Marcos. The months of inventory equals active listings during a certain period divided by the number of homes sold or pending during the same period.

BY JOE WARNER

Supply is low and demand is high when it comes to real estate in Hays County, especially near the I-35 corridor, where hundreds of houses are being built to satisfy the need. U.S. Census Bureau numbers show the demand as the population increases in San Marcos, Kyle and Buda is a major component in driving the number of residents to an estimated 230,000 in the county. “We are selling houses with multiple oers the rst day they go on the market,” said Allison Paum, a Realtor with the Hays Home Team at Keller Williams Realty and a resi- dent of Kyle. “Interest rates are unheard of, so we have been busy.” At the same time, low inventory has been an issue in Hays County. Paum said sales have been a good mix of newly built and existing homes, but Buda inventory is down 38% from May 2019 numbers and down 24% in Kyle. San Mar- cos shows a slight gain in inventory year over year, but local Realtors said the closer to Austin, the hotter the market. Paum said multiple oers on existing homes often drive buyers in the area to new construction, and dozens of builders are answering the call between San Marcos and South Austin. The coronavirus has also caused buyers to look for dierent CONTINUED ON 28

REPRESENTS ONE MONTH OF INVENTORY

IMPACTS

6

SAN MARCOS

BUDA

KYLE

2020 EDI T ION REAL ESTATE

3.2

3.5

2.7

1.7

2.4

1.8

+10.4%

38%

24.3%

SPONSOREDBY • Brohn Homes • La Cima

MAY 2019

MAY 2020

MAY 2019

MAY 2020

MAY 2019

MAY 2020

INSIDE INFORMATION

26

Hundreds of new homes are being built in San Marcos, Kyle and Buda. (Evelin Garcia/Community Impact Newspaper) SOURCE: AUSTIN BOARD OF REALTORSCOMMUNITY IMPACT NEWSPAPER

BEIJING BISTRO

33

INSIDE

34

HOTEL TAX REVENUE DECLINES Buda, Kyle and San Marcos are projected to have more than a 40% shortfall in hotel occupancy tax revenue for scal year 2019-20.

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42% DECLINE

18.49% DECLINE*

45% DECLINE

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KEY:

Projected hotel tax revenue Budgeted hotel tax revenue

SOURCES: CITIES OF BUDA, KYLE AND SAN MARCOSCOMMUNITY IMPACT NEWSPAPER

SAN MARCOS

KYLE

BUDA

*Buda numbers compare actual January-May 2019 (left) with actual January-May 2020 revenue.

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