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Market News and Trends

Home Prices in Austin

It’s no secret that home prices in the Austin metropolitan area have been increasing over the past several years.  Although the pace of price appreciation has slowed (Market moving toward “normal”?), it is still a very real part of our market environment and will likely continue for at least another year or two.  As part of my look back at our real estate market, it’s worth seeing how home price distribution has changed in the Austin metro area over the past eight years:

Notice that the $150,000 to $200,000 price range fell below 10% of our market for the first time in 2018, and that even the $200,000 to $250,000 range declined slightly last year.

But look at what has happened from $250,000 to $750,000. 52% of all home sales last year were above $300,000, and even the share of homes priced above $750,000 doubled since 2012, when we began our return from the last market bottom.

On paper, median income in the area has largely kept up with those changes, but well-paid, mostly tech employees are a different population than more traditional middle class workers. Affordable workforce housing is a growing challenge. I’ll have more to say about that as the year proceeds.

About Bill Morris, Realtor

More than thirty years of business experience (high tech, client service, business organization and start-up, including many years in real estate) tell me that service is the key to success and I look forward to serving you. I represent both buyers and sellers throughout the Austin metropolitan area, which means first-hand market knowledge is brought to bear on serving your needs: -- Seller Representation is a comprehensive process that begins with thorough market analysis and consultation, continues with properly staging the home to achieve the highest price possible in a reasonable time on market, a complete program of marketing and promotion, ongoing updates and communication, closing coordination, and follow-up throughout (and after) the sale. -- Buyer Representation is also full service: shopping, previewing, price and market consultation, contracting, negotiating, coordination of inspections, appraisals, repairs, and closing details, and follow-up beyond the closing of your purchase to ensure your lasting satisfaction. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. I go the extra mile to help you achieve your goals. That's why I constantly research the market and property values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers.

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