The Austin real estate market is one of the few places in the country that are experiencing double digit price increases. According to the Austin Board of Realtors, prices in the month of August 2012 were up more than 20 percent over the same month last year to a median price of $212,000.
That easily makes Austin one of the strongest real estate markets in the nation.
The good news is with the tight inventory of homes; rising rents and multiple offers received on available properties, most real estate experts believe the trend is strong enough to continue through 2013. Another major item supporting the real estate market is the availability of record low interest rates which the Federal Reserve has indicated it does not plan to change for an extended…
October 2012 RSS Feed
Home Starts Strong in Central Texas
The central Texas real estate market continues to be red hot, especially around Austin. According to the latest numbers from Metrostudy, housing construction is up more than 37 percent in the area and the demand for homes is supporting real estate price increases. A total of 2,376 homes were started in central Texas during the third quarter ended September. That was compared to 1,729 in the same period a year ago. The report also said the number was the largest number of starts since hitting more than 2,500 in 2008. The increase in housing starts is in response to the strong job demand in Austin, coupled with rising rents and a continued tight inventory of homes on the market. According to the latest report, less than 1,000 homes were available for sale…
Condos on the Rise in Austin
The condominium market is showing signs of economic recovery in Austin after a surprise announcement from a large developer. According to the Austin American-Statesman, The Flats on Wilson project near Bouldin Creek will become a $19 million property for sale, not for lease.
The prices range from $254,900 to $339,900 and experts believe that it is actually $250 less per month to buy a condominium compared with renting a similar apartment.
The Flats on Wilson are located in the very popular south-central Austin area that has become a preferred location for…
