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Market News and Trends

More on Austin-area Home Prices


Last week I wrote about how the distribution of homes sales in the Austin Metropolitan area have changed over the past several years (Home Prices in Austin).  I trust it surprised noone that prices throughout the region have increased.  Now, I want to break that down by city within the region, focusing just on reported sale prices in 2018.

The table below shows what percentage of sales in each city listed were in the price ranges shown last year.  For the purposes of this post, “home” includes houses, townhouses, and condominiums.  Just for clarity, “Austin Metro” covers the entire 5-county metropolitan area (Travis, Williamson, Hays, Bastrop, and Caldwell).  The “Urban Core” as shown here is the area bounded by Loop 360, Hwy 183, and Ben White Blvd.  With that, here’s the data:

Obviously, there is very little activity in our area below $150,000, and almost none above $1,000,000 except in the Urban Core, Lakeway, and Dripping Springs. I have highlighted the most prevalent price ranges in each city, and you can see generally increasing home values moving right across the table.  In 2018, 61% of homes sold across the metropolitan area were between $200,000 and $400,000, and about half of sales in Austin were in that range too.  But notice that in the Urban Core that drops to 34%, and the largest share of sales in that very large part of the city was between $500,000 and $750,000. 

I continue to believe we’ll see this distribution to creep toward the right in all of those cities this year, and I will update you as we go.

 

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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