AUSTIN REAL ESTATE: HOW MUCH HOUSE FOR YOUR MONEY?
published on May 25, 2008
Even in a struggling real estate market nationwide, Austin Texas area real estate is still faring relatively well. Your dollar stretches much further buying homes in Austin Texas than in many of the major metropolitan areas across the United States.
According to the Austin Texas real estate’s Austin Board of Realtors the current median price for Austin homes for sale is $220,000. That easily beats all the major metro areas in the northeast (the New York metro area, for example at $462,500) as well as places like Chicago, Phoenix, Las Vegas and Portland.
Let’s not even touch California. The San Diego Housing Commission says home prices have soared out of reach for many, with the median hovering over half a million dollars! For San Francisco, Sacramento and L.A. the news is only worse.
Perhaps you prefer a condo. Buy one in Austin, where the median price is $182,000. Compare that to a 1200 square foot “luxury” condo in Jersey City, NJ, just across the river from New York City. This studio (that means no bedroom) starts at $439,000. Or you could always head back to San Diego, for a median price of $380,000.
Even senior living is a better deal in Austin. Consider our version of Austin Texas luxury real estate for retirees, Sun City Georgetown: the average sales price for a home near 2,000 square feet is $221,300. Other highly touted senior “active” communities also around golf courses can’t compare.
We looked up several prominent ones in Florida, which start in the low 300s and go into and past the $400,000 range. We took note of a well-publicized similar development 20 minutes outside of Princeton, NJ. The average price there is $418,000. Even the prices in an increasingly popular senior golfing community – Saint George, Utah – soar into the mid 300s for just 1600 square feet.
Sun City’s highest priced property this year is still a steal, compared to these areas.
If you’d like to talk to an Austin real estate agent about how much you can get for your money, contact Brian Talley of Regent Property Group to set up an appointment.
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