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August 2016

There are 3 blog entries for August 2016.

Austin Rents Continue to Rise, Making Home Ownership More Affordable

Tuesday, August 30th, 2016 at 3:05pm. 576 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. 595 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. 682 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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