Austin Texas Real Estate Market
The city of Austin has been a popular spot the last few years, and we are enjoying record appreciation even as the rest of the country is seeing a slow down. Just in the first quarter of this year Austin has seen more than 10% appreciation in housing costs according to the Office of Federal Housing Enterprise Oversight. We had been a little behind the rest of the US market in our appreciation rates the last few years, and now we seem to be catching up in 2007.
The unemployment rate is Austin is very low and the job growth has been robust. This seems to be giving the Austin real estate market a real boost. The city is also a hot spot for out of state investors. We have seen lots of investment activity in all areas of town.
Austin is also one of the top markets for new home construction starts. Home builders have picked up and moved here from previously hot markets. And it is not just the single family homes in the suburbs – The downtown area is seeing a high rise condo construction boom at the moment, and it will forever change the Austin skyline with many new skyscraper towers.
The most popular neighborhoods in Austin are on the scenic West side of town. These include Davenport Ranch, Seven Oaks, River Place, Steiner Ranch, and Spanish Oaks. The Lake Travis area is also very popular and it includes waterfront luxury home neighborhoods like Vineyard Bay, Costa Bella, and Lakeway. Each of these neighborhoods has its own personality and we would love to discuss them with you and give you a property tour. If you are looking for a home in Austin please give us a call at 512-344-6000 or check out our Austin real estate blog for the latest updates on new listings and the local market conditions.
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