Did Austin’s Real Estate Market Encounter a Surprise this Week?
Big Idaho Potato Hotel Airbnb
Now that was a bolt from the blue.
My husband walked into my office Thursday morning and teased me, “You’ll never guess what happened?”
“CASBOT, the robot, hijacked a Waymo driverless car in San Franciso. The California Highway Patrol pursued the two over the Golden Gate Bridge and now BOT and MO are at large somewhere north of Marin County?”
“No”, he replied.
“Your cousin Greg bought an Airbnb sight unseen in Idaho. It turned out to be a potato on wheels. Am I right?”
“No. It only had wheels when they moved it.”
“Oh. Well, what could be more headline-grabbing than a carjacking robot or sleeping in a loaded baked potato?
“Existing home sales rose 4.2% in February, way higher than forecast,” he flatly replied.
The details? Home sales increased to a seasonally adjusted rate of 4.2 million units, while economists previously forecast home resales would drop to a rate of 3.95 units. The gain occurred despite higher interest rates.
In my world, receiving positive news about housing trumps robotics, or hand-free driving (which is nothing new…I see it daily on I-35…texting and shaving at 70 mph during a morning commute).
Taken by Surprise in Context
It is common knowledge: for the last two years, real estate news has been either abysmal or depressing…or both in Austin, Georgetown, and Round Rock. The resulting reality has deeply influenced the sentiment of would-be buyers and sellers. For instance, the following chart created by Meghan Malas of ResiClub reveals that more U.S. adults expect home prices to move lower in the Southwest than in any other geographical region.
In our local context, my question is simple. Did February's existing home sales surge in Williamson and Travis counties as they did for the rest of the nation? Since the Austin Board of Realtors has not yet released any reports, I cannot answer. However, I do know that my email inbox exploded with new listings this week. On average, I receive around 100 new listings a day. This week? It tripled.
Thinking about Selling?
Invariably, while collaborating with a would-be seller, the Z word always pops up. The Z word? Zestimate as in “But Ivy, Zillow says my home is worth as much as a 2025 McLaren.”
To which I reply, “Which one, the Senna or the 750S Spider?”
In her March 20, 2025 newsletter, Kim Kamando explains how Zestimate works. “Zillow pulls data from public records, recent home sales, and market trends. Sounds smart, but it doesn’t account for upgrades, renovations, or your home’s condition. The Zestimate is a rough guess. If you’re buying or selling, don’t rely on it.”
“Since Zillow can’t always be trusted, here are better ways to find out:
Ask a Real Estate Agent – Get a Comparative Market Analysis from a local expert.
Get a Professional Appraisal – The most accurate way to value your home.”
This is the precise advice I would give Greg if he tried to buy the Big Idaho Potato Hotel (although I doubt Kristie Wolfe, the owner, has any interest in parting ways with her popular sleeping tater tot).
It is to your advantage that you discover the details of your home’s value instead of relying on an algorithm. For this reason, I am here to serve you well. When you contact me I will reply promptly and provide you with a detailed market analysis.