THE AUSTIN REAL ESTATE MARKET
Austin continues to be a great place to both live and invest and now is truly a great time to be a property owner here! While much of the country is experiencing the downturn the Austin Housing Market remains relatively strong. Considering the Afforadbility, Price Stability, Economic Growth, Lifestyle and Environment enjoyed by Austinites it is no suprise that the local market continues to grow.
THE LATEST AUSTIN MARKET NEWS
Austin Home Prices continue to rise in the first quarter of 2008:
The median home price in Austin is now $200,000, a 4% jump from June 2007 though sales activity is down. Location is definitely a consideration that is becoming more important to today’s home buyers, as proximity to work, shopping and public transportation can mean considerable monthly cost savings. The emerging trend is that areas closest to downtown are doing better than outlying areas, most probably due to the high cost of gas. The downtown area has seen an influx of people who have taken advantage of the amenities offered there, many within walking distance. There are now 8000 residents living downtown and the majority of buyers for the newly completed condo units come from Austin itself.
Jun 08 - Single Family Homes Sold in Austin- 2248
Jun 08 - Average Price of a Single Family Home in Austin - $245K - ($244K in Jan 08)
Jun 08 - Average Cumulative Days on the Market for Homes For Sale in Austin - 65 - (74 In Jan 08)
Jun 08 - Mortgage Rates for Austin.....30yr Fixed, 15yr Fixed, ARMs and Jumbo Rates etc.
Seven Great Reasons to Buy in Central Texas
- Austin is expected to lead the nation in real estate appreciation in 2008 (4.8% estimated).
- Fewer families are selling their homes and with a steady inventory in the market rises in new home prices are anticipated.
- Interest rates for home loans are at historic lows, with the average rate for a 30 yr. fixed loan at 5.88%.
- The Austin MLS consistently has the lowest months of supply of homes for sale, making this one of the healthiest markets in the country.
- Compared to other major metropolitan areas, Austin’s cost of living index is lower, making home ownership not only attractive but attainable at all levels of the housing spectrum.
- Texas led the nation for job growth in 2007 (3.2%). The city also had the lowest unemployment rate in Texas at the end of 2007.
- Consistently ranked as one of the best cities to live in, Austin boasts a diverse and vigorous local economy led by a highly educated workforce. Austin’s economy consists of a healthy mix of sustainable industries, such as technology, business services, education and government. Some of the nation’s largest employers call Austin home including, AMD, Dell, Freescale, IBM, Intel, Samsung and Whole Foods.
Source Taylor-Morrisson Home Builders (March 08)
ALL THE TOOLS YOU NEED TO FIND A HOME IN AUSTIN.
Here are all the tools you need to perform an Austin Property Search, evaluate Austin Neighborhoods and obtain Austin School District Information. Sign up for Watch Alerts to receive Automatic Email Listings as new properties that meet your criteria become available. Whether you are an Investor, Home Buyer or Home Seller you can make or save money by using these Calculators.
NEW - To see low altitude aerial photos of listed homes - go to "Map Search"