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Austin, Texas Real Estate Market Update and Statistics May 2016

Thursday, May 19th, 2016 at 6:36pm. 165 Views

Central Texas Home Sales Jump 12.5 Percent, Austin Median Price Jumps Over Ten Percent

Travis Country homesSingle family home sales in Central Texas increased 12.5 percent in April 2016, compared to April of last year, for a total of 3,863 home sales. However, almost 80 percent of these homes were not sold within the City of Austin but in the surrounding region, according to the April 2016 Central Texas Housing Market Report released by the Austin Board of REALTORS®.

Hays County led the way, with a year-over-year increase of 17.8 percent in home sales in April 2016, for 338 home sales. The City of Austin had a 1.7 percent increase in single-family home sales, with 829 home sales. Williamson County actually saw a decline in sales, decreasing 5.1 percent year-over-year

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Scorching Pace for Austin Homebuilders in the First Quarter of 2016

Tuesday, May 10th, 2016 at 3:43pm. 145 Views

new construction AustinCentral Texas homebuilders began construction on 40 percent more homes in the first quarter of 2016 than in the first quarter of 2105, according to Metrostudy, as reported by the Austin American-Statesman and the Real Estate Center at Texas A&M University.

This dramatic rise equaled 3,570 new home starts in the first quarter of this year, compared to only 2,549 new home starts in the first quarter of last year. When comparing the first quarter of this year to the last quarter of 2015, home starts also were up: 32 percent over 2015’s last quarter new home starts of 2,702.

Year over year, new home starts were up 9.2 percent in the 12 months ending in March 2016, compared to the 12 month-period ending in March of 2015. This equaled 12,590 new home

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Austin Tops in the Nation for Small Business Vitality

Friday, May 6th, 2016 at 12:47pm. 225 Views

Kruger's downtown Austin Austin is ranked number one in the nation for its small business vitality, according to a study by American City Business Journals, in which it rated the vitality of small business in major metropolitan areas across the United States, with a goal of identifying the metro areas most conducive to small businesses creation and development.

Austin’s score of 98.96 is almost two points higher than the second place ranking, Miami-Fort Lauderdale-West Palm Beach with a score of 96.99. Cape Coral-Fort Myers, Florida is third with 95.34. Scores start to drop from there, with Sarasota-Bradenton, Florida coming in third with a score of 90.94, and Provo, Utah coming in fifth with a score of 83.33.

Factors affecting the ranking:

  • Austin has 44,163 small

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Austin, Texas Real Estate Market Update and Statistics April 2016

Friday, April 22nd, 2016 at 1:45pm. 656 Views

Canyonside home AustinEven with almost eight percent increase in home prices, Austin home sales also up -- over nine percent

Austin home prices rose yet again this March 2016, according to the latest Multiple Listing Service (MLS) report by the Austin Board of REALTORS®. The median single-family home price in Austin rose to $278,000 in March 2016, an increase of 7.8 percent year-over-year. Average home price saw a smaller increase, at 4.5 percent. Even with the price increases the Austin market has seen, home sales also continued to rise, increasing to 2,552 home sales in March 2016, an increase of 9.3 percent.

Austin’s low housing inventory, which is part of the reason home prices have trended upward, dropped 0.2 months compared to March 2015, for a housing supply of

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Austin-Round Rock the Sixth Most Educated Metro in the U.S.

Friday, April 15th, 2016 at 3:40pm. 595 Views

University of Texas AustinAustin-Round Rock is the sixth most educated metro area in the country, according to personal finance website ValuePenguin. Based on a study of data from the 200 most populous metropolitan statistical areas in the United States, ValuePenguin looked at factors such as level of schooling attainment, education in relation to poverty, school quality, and education in relation to employment in order to determine the rankings.

Austin-Round Rock scored highest in Attainment, coming in at 16th in the U.S. Attainment is the percentage of the 25-and-older population that has reached specific levels of education, such as completing high school, college, a masters’ degree, etc. Austin-Round Rock’s second highest ranking was School Quality, at 22nd in the nation.

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Austin Population Surpasses Two Million, Texas Leads the Nation in Population Growth

Friday, April 8th, 2016 at 4:39pm. 794 Views

Austin Texas populationAustin, Texas has reached a new population record, surpassing the two-million mark, according to the U.S. Census Bureau. The Bureau also reported that four Texas metro areas -- Austin-Round Rock, San Antonio-New Braunfels, Houston-The Woodlands-Sugar Land, and Dallas-Fort Worth-Arlington -- collectively added more people in 2015 than any other state, adding about 412,000 people.

Houston-The Woodlands-Sugar Land added 159,000 people between July 1, 2014, and July 1, 2015. Dallas-Fort Worth-Arlington added 145,000 residents. And San Antonio-New Braunfels and Austin-Round Rock each added over 50,000 people, which pushed Austin over the two-million mark. Texas as a whole gained about 490,000 people.

Austin’s specific population gain was 57,395, which

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Graduate Programs at UT Ranked among Nation’s Best

Tuesday, March 22nd, 2016 at 5:25pm. 740 Views

UT Austin graduate school rankingsMore than 40 graduate programs at the University of Texas at Austin rank in the top 10 of U.S. News & World Report's 2017 edition of "Best Graduate Schools," and three programs rank number one in the United States.

The three programs named top in the nation in their respective disciplines are accounting in the McCombs School of Business, petroleum engineering in the Cockrell School of Engineering, and Latin American history in the College of Liberal Arts.

Beyond the number one rankings, some of the top ten rankings:

The College of Pharmacy ranks third in the U.S. and third among public universities.

The School of Information ranks sixth in the United States and fifth among public universities.

The School of Social Work ranks seventh

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Austin, Texas Real Estate Market Update and Statistics March 2016

Monday, March 21st, 2016 at 6:42pm. 824 Views

Austin-area Home Prices Still Increasing

Estates above Lost Creek homesAustin-area home price growth still shows no sign of slowing down. Compared to February of 2015, median home prices for February 2016 increased eight percent to a median price of $269,900, according to a Multiple Listing Service (MLS) report released by the Austin Board of REALTORS®.

Home sales increased 2.9 percent year-over-year, to a total of 1,783 home sales in February 2016. This follows an almost 2 percent decrease in home sales in January 2016, an anomaly when put in context of recent years – at least so far.

Housing inventory has been tight in Austin for years, but Austin did at least add .1 months to its supply compared to last February, for a total inventory supply of 2.1 months. This was

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U.S. News Ranks Austin as #2 Best City to Live

Wednesday, March 9th, 2016 at 6:12pm. 868 Views

Austin Texas downtownU.S. News & World Report has released its latest rankings for Best Places to Live in the United States, with Austin taking the second spot in the nation for its quality of life, job market, the value of living here, and people’s desire to live here. Austin’s overall score was 7.7 out of 10. Denver, Colorado ranked first. Fayetteville, Arkansas; Raleigh-Durham, North Carolina; and Colorado Springs, Colorado rounded out the top five.  

The report stated that while the median sales price for Austin homes is well above the national average, “Austinites' pocketbooks benefit from no personal or corporate income tax, and a low state and local tax rate.” It also cited the relative value of housing, when considering housing costs compared to median household

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Austin, Texas: America’s Most Popular Relocation Destination

Wednesday, March 2nd, 2016 at 12:11pm. 542 Views

Austin town lakeIf it ever was a secret, it seems word definitely is out now about the high quality of life in Austin, Texas. Data from the United States Census shows the Austin-Round Rock metropolitan area is the number one relocation destination in the U.S. among metro areas with a million residents or more. The Austin area demonstrated a 5.4% population increase from domestic migration between 2010 and 2013. It was followed by Raleigh, North Carolina at a 3.7% increase and San Antonio-New Braunfels at a 3.2% increase.

A Bloomberg report on the numbers noted that cities like San Francisco, Silicon Valley, Greater New York, Los Angeles, and Washington, D.C. didn’t make the list, and instead were losing residents to what it termed the second-tier metros in terms of

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