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Austin, Texas Real Estate Market Update and Statistics September 2016

Monday, September 19th, 2016 at 1:32pm. 128 Views

Austin-area Median Home Prices Up Over Nine Percent

Austin homesAustin-area home prices rose to $289,990 in August 2016, a 9.4 percent increase compared to August 2015, according to the Austin Board of REALTORS® August 2016 Central Texas Housing Market Report. Austin-area home sales also rose in August 2016, with a 5.3 percent increase resulting in 2,985 home sales.

“Austin, and now the Central Texas region at large, continues to be a magnet for jobs and new businesses across multiple industries,” said ABOR President Aaron Farmer. “This continues to keep housing demand at an all-time high and inventory at near-record lows despite strong housing development and a greater number of listings on the market.”

Within the city limits of Austin, prices continued to

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Few Underwater Homes in Austin, Texas

Thursday, September 8th, 2016 at 4:47pm. 233 Views

central austin homesAustin, Texas is among the top United States cities with the highest percentage of homes with positive equity, according to CoreLogic and The Home Story. The San Francisco area leads the way with 99.4% of homeowners having positive equity, with Boulder and Urban Honolulu at 99.1%. Fort Collins came in at 98.6%, with Austin, Fort Worth, and San Jose coming in next with 98.5%. Houston was also in the top ten, with 98.3%.  

“In just the last four years, equity for homeowners with a mortgage has nearly doubled to $6.9 trillion,” said Frank Nothaft, chief economist for CoreLogic. “The rapid increase in home equity reflects the improvement in home prices, dwindling distressed borrowers and increased principal repayment. These are all positive factors that

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Austin Rents Continue to Rise, Making Home Ownership More Affordable

Tuesday, August 30th, 2016 at 3:05pm. 253 Views

Austin rent pricesRent prices in Austin, Texas continue their steady upward climb, rising 0.6 percent between June and July 2016 and up 3.7 percent year-over-year, according to Apartment List’s August 2016 Austin Rent Report. And with 71 percent of Austin renters planning to purchase a home in the future – well over the national average of 60 percent – rent prices may be a defining factor in making the move to homeownership.

The median rent for a one-bedroom in Austin is $1,200, and the median rent for a two-bedroom is $1,500. However, in the most popular areas, rent is even higher.

Downtown is the most expensive part of Austin, with the median two-bedroom costing $3,080, and the median one-bedroom costing $2,140. Downtown did see a 0.3 percent decrease in rents

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Largest Starter Homes in the U.S.? Austin, Texas

Friday, August 26th, 2016 at 1:55pm. 282 Views

Millennial homebuyers have a piece of good news: Austin starter homes are the largest in the nation, at 1,428 square feet, according to Trulia and reported in its article, Room to Roam: Where Starter Home Buyers Can Live Large.

Forest Oaks homesNotably, the South in general fared much better than other areas of the country, with five of the top ten markets for the biggest starter homes in Texas. In fact, the Lone Star State fared very high in its reporting of the largest square footage for all three categories: starter homes, trade-up homes, and premium homes.

In the starter home category, after Austin was Atlanta at 1,344 square feet, Newark at 1,330 square feet, Montgomery County, PA at 1,326 square feet, and Houston at 1,300 square feet.

For trade-up homes,

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Austin, Texas Real Estate Market Update and Statistics August 2016

Sunday, August 21st, 2016 at 3:30pm. 401 Views

central austin homesAustin-area Home Sales Down 4.9 Percent, Home Prices up 5.6 Percent

Single-family home sales in the Austin-area decreased 4.9 percent in July 2016 compared to July 2015, to 2,900 home sales, but median price saw another increase, rising 5.6 percent to $285,000, according to the July 2016 Central Texas Housing Market Report by the Austin Board of Realtors®.

“When it comes to sales volume, we’ve grown very used to seeing year-over-year increases every single month, but it’s important to remember that 2015 had the strongest summer selling season in the region’s history,” said ABOR President Aaron Farmer.

Housing inventory in the Austin-area was statistically unchanged compared to July 2015, at 2.8 months, almost four months shy of the rate

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How Good are the Schools? SAT Scores in the Austin Area

Friday, July 22nd, 2016 at 2:25pm. 492 Views

Westlake high school SATHow good are the schools? This is one of the most important questions homebuyers can face when choosing a neighborhood to call home. As it turns out, there are a variety of central Texas schools and districts that show solid SAT scores, a good indicator of the school’s overall academic level.

The Austin Business Journal reported average SAT scores at public high schools based on the Texas Education Agency's Texas Academic Performance Reports and found that Austin Independent School District, Round Rock Independent School District, Eanes Independent School District, Leander Independent School District, and Lake Travis Independent School District all have schools in the top ten.

Here are the top 15 schools for SAT scores in the Austin area:   

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Austin Housing Market on Pace for Record-Breaking Year

Tuesday, July 19th, 2016 at 2:27pm. 591 Views

home interior austinThe Austin home real estate market remains scorching hot and is on pace to surpass the record-breaking numbers of 2015, according to the Austin Board of REALTORS® June 2016 and Mid-Year 2016 Central Texas Housing Market Report.

“The Austin-Round Rock housing market is on track to outpace 2015 market levels, which was a record-breaking year for home sales,” said ABOR President Aaron Farmer. “Despite the ongoing housing shortage and affordability challenges impacting our region, population growth and housing demand continue to drive home sales upward.”

For the month of June 2016, home sales in the Austin-Round Rock Metropolitan Statistical Area increased 8.5 percent compared to June 2015, to 3,219 sales. Median price increased 8.2 percent to $295,500.

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Condominium Sales Up in Texas, as Lifestyle and Expense Come into Play

Wednesday, July 13th, 2016 at 1:06pm. 716 Views

Austin condosCondominium sales in Texas’ major metro areas increased during the first half of 2016, seeing demand over townhomes and single-family homes among young professionals and retirees, according to the Texas Association of REALTORS® Texas Condominium Mid-Year Sales Report.

The metros of Austin, Dallas, Houston, and San Antonio experienced increases in condo sales between January 2016 and May 2016 when compared to the same six-month period last year. Townhomes saw a slight decrease.

“Many young urban professionals and newly retired baby boomers are buying condos, as they provide an affordable alternative to single-family homes and townhomes,” said TAR Chairman Leslie Rouda Smith. “These Millennials and retirees don’t want the upkeep of a traditional,

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Austin, Texas Real Estate Market Update and Statistics June 2016

Tuesday, June 21st, 2016 at 5:56pm. 730 Views

Enfield homesHome Sales Jump 10% in Austin-Area

Home sales in the Austin-area jumped 10% in May 2016 compared to May of last year, and in Williamson County, the increase was even higher at 19.5 percent, according to the Austin Board of REALTORS® May 2016 Central Texas Housing Market Report.

“Housing demand continues to be at an all-time high in the Central Texas region, with properties priced under $500,000 selling rapidly,” said ABOR President Aaron Farmer. “Williamson County homes are among the most popular in the region due to the county’s highly rated school districts, access to major thoroughfares and proximity to major employment hubs in Austin.”

In the Austin-area, the greatest movement was seen in pending sales. The Austin-area had 3,297 pending sales

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Austin, Texas Top U.S. Market for Aspiring Millennial Homebuyers

Tuesday, June 21st, 2016 at 2:40pm. 712 Views

millennials Austin real estate Austin, Texas is the best market in the nation for millennials to purchase real estate, according to a June 2016 report by the National Association of Realtors that reviewed employment, population, income, and housing condition data in the nation’s largest metro areas.

Among the rankings, Charleston came in second, followed by Denver, Minneapolis, and Ogden, Utah for the top five. Portland, Raleigh, Salt Lake City, Seattle, and Washington, D.C. comprised the rest of the top ten.

According to the report, millennials represent 18% of the Austin population and 29.4% of those moving into Austin. These figures both represented the largest percentage of millennials among the 100 largest metro areas. Austin employment grew 4.9% over the 12-month period

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