No doubt about it: the Austin metropolitan area is a happening place, and our real estate market is reflective of that. We have a net of about 108 new people moving here every day, making this part of Central Texas one of the fastest growing (if not THE fastest growing) areas in America.
Most of the recent population growth we’ve seen has been in the surrounding Travis/Williamson County suburbs: Round Rock, Pflugerville, Cedar Park, Leander, Liberty Hill, and to a lesser degree the cities of Kyle, Buda, Wimberly and Dripping Springs to the south in Hays County.
In 2015 the Austin-Round Rock metropolitan area passed the 2 million mark in population. I know this figure freaked out some of our longtime local residents, but I’m honestly not bothered by it. I spent 3 years living in Shanghai — a city of 24 MILLION people — so perhaps my population freak-out bar might be set a little higher than average, but still. Even though there are some significant growing pains accompanying our city’s rapid expansion (cough cough *traffic!* cough cough), overall I think it’s emblematic of our desirability, affordability and a robust local economy, which I’m all for!
Much of this expansion is attributable to local jobs scene, especially within the tech industry, with such employers as Apple, Dell, Google, Facebook, Indeed, Amazon, HP, Oracle, National Instruments and Intel all having (and growing) a significant presence here. Our very strong local jobs market has kept the demand for homes growing, while inventory is still relatively low, which has been steadily driving home prices up. But when you compare Austin to other major tech hubs (I’m looking at YOU, Silicon Valley), our median home price is still very affordable!
Here’s a quick overview of the most recent market stats for the Greater Austin Area:
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If you’re considering a move to the Austin area and want to talk with a real estate professional, or if you’d just like to find out more about what these statistics mean and how they effect YOU, I’d love to help! Please feel free to contact me by phone or email.
You can also get monthly market updates for specific zip codes emailed to you by clicking on the Neighborhood News link and signing up with your info (no spamming, I promise) — and while you’re there you can also sign up for my monthly newsletter, which is chock-full of useful and interesting tidbits.
Tanya Joffrain, REALTOR / 512.694.7917 / firstname.lastname@example.org