Dripping Springs Real Estate Market Update | 78620 | November 2023

It’s been a month or two since I’ve given an update on the Dripping Springs housing market and wanted to share with you all what’s happening in the zip code for 78620! We are starting to see more homes come off of the market due to not selling (21 withdrawn, 18 expired). We should see a boom in listings in the spring once the prime selling season begins again in March.

Will you be one of them? Just reach out to me to begin planning for an amazing listing!

Dripping Springs Real Estate Market Update

Active homes: 213 (64 new construction)

Pending/Active Under Contract: 52 (25 new construction)

Closed in the last 30 days: 20 (10 new construction)

Average closed price: $671,403

Close to list ratio: 97.8%

Price per square foot: $245.56

Dripping Springs Real Estate Market Update

78620 Rental Market:

Active rentals: 55

Pending: 9

Closed: 13

Average price: $2476/month

Mortgage rates have dropped about half a point from last month and it has driven up buyer activity in the last 2 weeks! Here is the daily rate from Mortgage News Daily:

New Commercial Developments of note in Dripping Springs:

“The Local” in Dripping Springs appears to be a luxury apartment complex at 27110 RR 12.

Garbo’s Seafood Restaurant will be offering lobster rolls, lobster tails, oysters, fish and chips and more! Opening in 2024 at 136 Drifting Wind Run, Dripping Springs.

The development by Ledgestone is coming along and I know my family is excited about Chipotle opening there soon!

Mid Century Modern home in Caliterra Dripping Springs

Want to buy a beautiful home and finish it out to your liking? Check out this amazing Mid Century Modern home for sale in Caliterra!

151 Emmanuelle Court, $699,000

See the video tour and read more at http://www.midcenturydstx.com/

Real estate is hyper local… even down to the tiniest neighborhood!

Thinking of buying or selling your home in Dripping or the Austin area? I would love to talk with you about if now is a great time to buy or sell your home. I can come and see your home and talk with you about the real estate market and give an in depth look at what is happening and honest feedback on whether now is a good time to make a move or not! Just reach out: 512-569-8480 or laurenclark@magnoliarealty.com

Check out my Dripping Springs Guide HERE.

Click HERE to watch my Dripping Springs Youtube Channel.

Click HERE to view current homes on the market.

Click HERE to get a FREE home valuation

Click HERE to learn more about the local adventure and businesses!

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@laurenlovesdrippingsprings

laurenclark@magnoliarealty.com 512-569-8480

 

 

 

 

Licensed by the Texas Real Estate Commission

 

License # 756168

 

Magnolia Realty Austin Hill Country

101 S. College St.

Dripping Springs, Texas

78620

Managing Broker:

Cody George