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The Austin metro area has become a famous real estate market over the past couple of years — hot, hot, hot!!! Multiple offers and very quick sales are frustrating for prospective buyers, many of whom make offers for several homes before successfully getting one under contract. These market conditions can also be discouraging to would-be … Continue reading
How much do homes really cost here? In the metro area, the highest average and median prices are in neighborhoods near the close-by south shore of Lake Travis, not in the city itself. At the other end of the market, there are six suburban cities with average and median home prices at or below $200,000. Continue reading
It is still possible to buy less expensive homes, but with the rapid growth in population and employment, it is more difficult and competitive, and most often in the suburbs. Still, through September 2014 more than 1/3 of all homes sold in the metro area were priced under $200,000. Continue reading
Interesting information from the Texas Tribune …
Two recent reports discussed encouraging news about rising home values in the United States. The Austin area has seen 23 months of annual price gains. More …. Continue reading
Austin has continued to attract employers and employees over the past several years, and conservative home equity lending laws prevented much of the price run-up experienced in places like California. I’m pleased to call Austin home for many reasons, and our experience with this most recent recession is just one. Continue reading
The Austin-area real estate market has turned the corner. We’re clearly into a new growth phase. As evidence, here’s a quick summary of the past few years’ home sales: We have experience 22 consecutive months of year-over-year sale growth, and very significant growth in most of those months: Moreover, it’s worth noting that even filtering … Continue reading
Home sales grew by 20% last year. At the same time, the number of homes for sale declined by 21%. There is a growing number of buyers chasing a shrinking number of homes, and prices are going up. Continue reading
This data shows why the average price of about $278,000 in “Austin” is not especially helpful in more specific discussions of property values. You can also see why my answer to “What’s the price per square foot in Austin?” is always, “It depends.” Continue reading
All of the proportional sales growth in this market over the past 10 years has happened above $250,000, and the fastest growth was above $400,000 — even though the median price remained below $200,000 until last year. Pay attention to the difference between average price growth and actual value appreciation. Continue reading
Bill Morris on Austin Real Estate 