The Current Austin Real Estate Market

According to a recent report from the Real Estate Center at Texas A&M University, Texas has created more than half the jobs in the nation over the last year with Austin ranking as the second city in the state behind Waco for the largest percentage of job increases. The growing local economy has helped the Austin real estate market remain stable. Austin Board of Realtors just released the statistics for Oct. 2010. While there was a lower volume of sales the home values in Austin continue to hold steady. For buyers, a continued exceptional opportunity still exists due to an increased selection of inventory and continuing low mortgage rates.  Currently there are over 3,800 Single-family residences for sale in the City of Austin of which 910 homes are listed at $500K and above and considered to be apart of the Luxury Homes Market*.

187 homes listings located in LS with average selling price in the area at $ 418K.

132 home listings located in area 1B with average selling price in the area at $594K.

101 home listings located in 8W with an average selling price in the area at $631K.

99 homes listings are located in 8E with the average selling price in the area at $747K.

* Statistics provided by ABOR MLS 11/16/10

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