Austin, Texas is the Live Music Capital of the World, the home of technological innovation, breakfast tacos, amazing festivals, food trucks, the Shannon Schmitz Group at Austin Portfolio Real Estate and, of course, “Keeping it Weird”. It’s no surprise that people are flocking to call the heart of Texas their home.
According to the Multiple Listing Service (MLS) report released by the Austin Board of REALTORS® (ABoR), August 2013 set a record for the most Austin-area home sales in the month of August. 3,082 single-family homes were sold last month, representing a 30 percent increase from August 2012 and double the sales volume of August 2010.
Most incredible, area LW, which is the west side of Lake Travis, experienced a 109.7% increase in median sales price between May 2012 and May 2013. Areas HS (San Marcos) and 5E in East Austin, also increased by more than 70%. Areas 1B in Central Austin and Downtown increased between 40%-50% and even areas in North Austin, like Areas 2 and 1N have increased by at least 20%.
What is causing this growth? Money is cheap and Jumbo Loans are plenty. People are beginning to loosen their
purse strings and are making housing purchases again. Austin’s economy is still one of the strongest in Texas.
With over 115 people moving to the Austin area daily, it reaffirms that our city is tops in Texas.
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