Wednesday, April 26th, 2017 at 2:30pm. 94 Views
The Austin Business Journal, in partnership with information from Metrostudy Inc., released a list of the fastest growing new construction neighborhoods in the Greater Austin area, with results including neighborhoods in Travis, Williamson, Hays, Bastrop, and Caldwell counties. As reported by the Real Estate Center at Texas A&M University, the results track one year of activity from 1Q 2016 through 4Q 2016 and are based on housing starts, when foundations are poured.
Here are the fastest growing neighborhoods in the Austin area for 2016:
With 426 home starts, Siena at Highway 79 and SH 130 was the fastest growing new construction neighborhood in the Greater Austin area. Homes range from $212k to $380k. With 313 new home starts, Sun City Texas by Del…
Monday, April 24th, 2017 at 1:51pm. 144 Views
Homes Sales Neutral in Austin and Greater Austin
Home sales in Austin and Greater Austin were relatively neutral in March 2017. Within the city, home sales increased 1.2 percent compared to March 2016 to 780 home sales, according to the Austin Board of REALTORS® March 2017 Central Texas Housing Market Report. In the Austin-Round Rock Metropolitan Statistical Area, home sales decreased 1.4 percent compared to March 2016 to 2,509 home sales.
In both areas, home prices increased. Median home price in Austin increased 12.6 percent to $371,606, and in the Greater Austin area, median price increased 5.6 percent to $295,767. Inventory also increased in both areas, with inventory in Austin growing by 0.1 months to 1.8 months of inventory and with inventory…
Friday, April 21st, 2017 at 1:03pm. 114 Views
Texas homebuyers are becoming increasingly diverse, with more single and minority homebuyers, according to the Texas Homebuyers and Sellers Report 2017 Edition, released by the Texas Association of REALTORS®.
Single homebuyers now represent 28 percent of all homebuyers, spurred by increases in sales by both male and female single homebuyers. Single female homebuyers increased five percent to 19 percent of all homebuyers. Single male homebuyers increased two percent to nine percent of total homebuyers.
Hispanic homebuyers now represent 14 percent of home sales and 27 percent of first-time homebuyers. African-Americans make up six percent of all home sales and are the most likely minority group to be repeat homebuyers.
The median age of Texas…
Wednesday, March 29th, 2017 at 3:42pm. 259 Views
If you’ve moved to Austin within the last five years or so, you’ve probably always known downtown Austin as a trendy, happening kind of place. But it wasn’t that long ago that building a high-rise condo was a risk, that walking around after business hours meant walking alongside darkened storefronts, and that conveniences in general were conspicuously missing.
Of course, that has all changed now! According to Realtor.com rankings, Austin is the number six city in the nation “Where Downtown Is Making a Comeback.” Its report says, “The story of downtown Austin isn’t entirely about rising from the ashes.” Instead Austin’s story is “about a small urban area known best for hole-in-the-wall bars and middle-of-the-night taco joints exploding into a full-on…
Tuesday, March 28th, 2017 at 2:03pm. 340 Views
Turns out the oft-cited statistic of Austin growing by 150 people per day wasn’t quite right. The final tally shows that the Austin-Round Rock Metropolitan Statistical Area grew by more like 159 people per day in 2016, according to an article in the Austin Business Journal.
This was a 2.9 percent annual growth rate for the Austin MSA, which includes the counties of Travis, Hays, Williamson, Burnet, and Caldwell. This made it the ninth fastest growing MSA in the United States, according to United States Census Bureau data. Hays County, which includes the cities of Buda and Kyle, was the third fastest growing county in the U.S., with growth of 5.1 percent.
For a timeline comparison, the Austin-Round Rock MSA had a quaint July 2010 population of…
Saturday, March 18th, 2017 at 11:54am. 358 Views
Austin-area Home Sales Flat in February 2017, while Prices Rise
Austin-area single family home sales increased 0.9 percent in February 2017 compared to February 2016, resulting in 1,829 home sales. Median price, meanwhile, continued its climb, rising 6.5 percent to $287,000, according to the Austin Board of REALTORS® February 2017 Central Texas Housing Market Report.
The ABOR release posited that the Austin-Round Rock Metropolitan Statistical Area is transitioning to more stable market conditions. “The Central Texas housing market is just now beginning to catch up to itself after years of unprecedented sales growth. It’s important to remember that current figures are being compared to very strong housing market activity in 2016, so a decline in home…
Monday, February 20th, 2017 at 2:33pm. 520 Views
Austin Real Estate: Strong January to Start 2017
The Austin area experienced strong real estate gains in January 2017, starting the year with a seven percent increase in home sales, according to the Austin Board of REALTORS® January 2017 Central Texas Housing Market Report. The City of Austin kicked off the year with a 9.8 percent increase in home sales.
“Consecutive years of strong housing demand and sales growth throughout Central Texas have significantly changed housing market conditions in Austin and the surrounding region,” said ABOR President Brandy Guthrie. “The radius of local market areas with critically low housing inventory levels has expanded out from Austin into surrounding counties, shifting the price range of available homes in local…
Friday, February 17th, 2017 at 12:15pm. 393 Views
A recent KVUE article reported that housing prices have risen faster in Austin than anywhere in the country and that salaries are not keeping pace with the increase.
Looking at the past 26 years of data, KVUE found that family income rose 97 percent, while median home prices rose 290 percent. This means a family originally making $50k would have seen its income increase to $98.5k, and a home that had cost $100k would now cost $390k. To stay on par with price increases, the median income would have had to increase to $153k per year. A median house in Austin is now about $355k.
KVUE said the rapid price increases, in conjunction with less robust wage increases, are “pushing people out of town.” It also cited increasing tax burdens on home owners as a…
Wednesday, February 8th, 2017 at 5:13pm. 413 Views
How does it feel, Austin, Texas? You live in the best city in the United States of America.
U.S. News & World Report named Austin tops in the country in its annual Best Places to Live rankings of the 100 most populous metro areas, up from the second spot last year. It had an overall score of 7.8 based on desirability, value, the job market, quality of life, and net migration. The rankings are “intended to help readers make the most informed decision when choosing where to settle down,” according to U.S. News.
Denver, Colorado; San Jose, California; Washington, D.C., and Fayetteville, Arkansas rounded out the top five.
Quality of life was 30 percent of the overall score, and for this metric, Austin scored a 7.3. Quality of life took into account…
Monday, January 30th, 2017 at 4:35pm. 368 Views
Texas job creation grew by 1.8 percent annually from December 2015 to December 2016, with an increase of 213,500 nonagricultural jobs. This is compared to a 1.4 percent increase in the United States, according to the Monthly Review of the Texas Economy by Ali Anari at the Real Estate Center at Texas A&M University. Nongovernmental (private sector) jobs increased 1.7 percent, to 173,400 jobs, also 0.2 percent higher than nationally.
Texas’ unemployment rate in December 2016 was 4.6 percent, seasonally adjusted, the same as the preceding December. The U.S. rate was slightly higher at 4.7 percent.
Ranking highest in growth in Texas were education and health services, followed by the leisure and hospitality industry, financial activities, and trade.…