Learn how to determine your current net worth and how an investment in real estate can help improve your bottom line.Among its many impacts, COVID-19 has had a pronounced effect on the housing.
Jul 21 2016 20710 1
Dated: July 22 2016
Last year’s real estate market had no shortage of jaw-dropping headlines: “2015 sets an all-time high for Austin-area home sales volume and prices!” “The median price for single-family homes increased nearly $30,000!” “The average price for a single-family home is now $333,558!”
In fact, prices in the ATX market have gotten so high and the volume of properties so low, the Austin Board of Realtors (ABOR) says the majority of home sales activity is now taking place outside of Austin city limits. That’s not to say sales aren’t still flourishing. As of April, home sales are up 3.6 percent year-to-date—but that’s quite a bit less than the double-digit increases ABOR had been seeing since the market started booming in 2013.
To help make sense of it all, we turned to the data, provided by ABOR. Using numbers for inventory sold and percentage change in days on market and median price as background material, we put together our own list of 10 hot ZIP codes in Austin. The interesting thing is that North, South, East, West and Central Austin are all represented. As Mary Anne McMahon, broker owner of RE/MAX Posh Properties, puts it: “There is not a market in Austin that isn’t considered sought after. At one point, we could direct clients to a particular area to get ‘a good deal;’ now we are seeing growth everywhere.”
*ZIP code stats, based on figures from calendar year 2015 and compared to 2014, are courtesy of Austin Board of Realtors
Source: Austin Monthly (Jane Kellogg Murray)
Team Price Real Estate
Latest Blog Posts
Today’s real estate market is one of the fastest-moving in recent memory. With record-low inventory in many market segments, we’re seeing multiple offers—and sometimes even bidding wars—for