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Austin, Texas Real Estate Market Update and Statistics October 2016

Tuesday, October 18th, 2016 at 5:13pm. 106 Views

Austin-area Home Sales and Prices Continue to Rise

regents house austinThe median price for Austin-area single-family homes increased to $275,250 in September 2016, an increase of 7.5 percent compared to September of last year, according to the September 2016 Central Texas Housing Market Report by the Austin Board of REALTORS®. Home sales in the Austin-area rose 1.3 percent to 2,576 home sales.

Days on the market was unchanged at 47 days, and inventory increased .1 month to 2.7 months. The total dollar volume of Austin-area home sales was approximately $887 million, an increase of eight percent.

Most of the Central Texas residential real estate activity is occurring outside the city limits. In September 2016, fewer than 20 percent of homes sold in Central Texas

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What’s the Least Expensive Month to Buy a Home in Austin?

Thursday, October 13th, 2016 at 1:17pm. 167 Views

Rollingwood homesHome buying in January might land buyers a much better deal. This is according to Nerd Wallet, which used Realtor.com data to determine that the least expensive month to buy a home in Austin, Texas is in January. And it’s no small matter: based on a two-year average of median sales prices, buying a median-range home in January could save buyers about $24,000.

In Austin, the report found that the summer house price (the two-year average of the median sales price) was $256,132. The fall price was $250,565, a drop of 2.2 percent. The cheapest month to buy was January, when the median house price was $232,500, a drop of 9.2 percent.

The report found that home sale prices in all large United States metro areas typically peak in the summer, dip in the

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Austin Number Two in Nation for Net Migration

Friday, October 7th, 2016 at 1:28pm. 138 Views

austin skylineAustin takes the number two spot in the nation among large metro areas for its net migration, according to U.S. News and World Report’s list of the “The 20 Best Places People Are Moving to in the U.S.”

Austin, which also has been named the #2 best place to live in the U.S. by U.S. News and World Report, had net migration growth of 8.86 percent between 2010 and 2014. The report says Austin ranks “highly for desirability and has a blossoming job market for the high tech industry.” According to the report, Austin has a population of 1,835,016, a median home price of $240k, and median income of about $48k. 

The rankings were based on population growth by net migration for the 100 largest metro areas in the United States from 2010 to 2014, using U.S.

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International Homebuyers Pump More than $10 Billion into Texas Real Estate

Tuesday, September 27th, 2016 at 4:11pm. 222 Views

Tuscan homes austinInternational homebuyers pumped more than $10 billion into the Texas economy from April 2015 to March 2016, according to the 2016 Texas International Homebuyers report. This amounted to more than 21,000 Texas homes purchased by international buyers, compared to the previous year’s 16,720 Texas homes for a total of $8.32 billion. 

Of those international buyers, 36 percent were from Latin America (including Mexico), 34 percent were from Asia/Oceana (including China and India), 12 percent were from Europe, eight percent were from Africa, and four percent were from Canada.

Of the states, Texas had the third highest percent of international homebuyers with 10 percent. Florida had 22 percent, and California had 15 percent. Texas had the highest percentage

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Austin, Texas Real Estate Market Update and Statistics September 2016

Monday, September 19th, 2016 at 1:32pm. 284 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. 367 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. 376 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. 357 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. 485 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. 555 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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