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Austin, Texas Real Estate Market Update and Statistics April 2016

Friday, April 22nd, 2016 at 1:45pm. 474 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. 478 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. 578 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. 620 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. 707 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. 779 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. 468 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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Austin, Texas Real Estate Market Update and Statistics February 2016

Tuesday, February 23rd, 2016 at 3:56pm. 577 Views

Austin homesSales Dip, Prices Keep Rising

Austin area home sales dipped slightly in January with a total of 1,459 home sales, according to a Multiple Listing Service (MLS) report released by the Austin Board of REALTORS®. While home sales showed this slight decrease of 1.9 percent compared to last January, median price rose 6.3 percent year-over-year, reaching $254,999.

It has been posited by real estate experts that some of the decline in sales is due to a continued lack of inventory. Inventory has been low for several years, a factor heavily in favor of sellers. In January 2016, the supply of inventory was only at 2.0 months, which is 4.5 months’ shy of what is considered a balanced market by the Real Estate Center at Texas A&M University. While January’s 2.0

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Round Rock Fourth in Nation for Affordability

Wednesday, February 10th, 2016 at 5:20pm. 542 Views

round rock houseRound Rock, Texas has been named the fourth most affordable city in the United States on Livability’s 2016 Top Ten Affordable Places to Live report. The fourth place ranking is a drop from last year’s first place finish but still puts an attractive spin on this suburban community just north of Austin. In fact, the report begins with the statement, “No, this isn’t heaven, it’s Round Rock, Texas.”

Livability cited Round Rock’s median income of $69,533 as going “a very long way” and attributes the drop from first to fourth because “residents do spend slightly more than those in other cities on housing costs,” although the report listed the median home price at only $168,800, a large step down from neighboring Austin. Considering the quality of life Round

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Austin Ranked the #1 City in America for Young Families

Wednesday, February 10th, 2016 at 4:31pm. 513 Views

downtown AustinValuePenguin has ranked Austin as the top city in the nation for young families on its Best Cities for Young Families in 2016 report. Based on 16 different factors, the capital city ranked tops out of 156 compared cities.

Of the five factors ValuePenguin considered the most important for young families, Austin ranked third for Education and Environment, 10th for Working Parents, 17th for Outdoor Activities, 103rd for Buying or Renting a Home, and 121st for Safety and Healthcare.

For Austin’s highest ranking of Education and Environment, the report looked at the number of children in Austin, the percentage of families in poverty, the rating of the school systems (by GreatSchools.org), and the proximity of state universities. “Our belief is that kids

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