Your Austin Area Market Update

Real Estate

The year has begun with a bang here in Austin, setting the pace for what economists predict will be another great year in real estate, and Your Austin Area Home Team is excited!

FrostTower

Austin’s Iconic Frost Tower

Despite December’s holiday-bustle factor, homes sales remained strong last month, setting the record for an all-time-high with almost 2,300 home sales and a median sales price of $246,530 for the Austin metro-area. That momentum carried us into a robust January, and there is no end in sight. I was literally negotiating on a multiple offer situation while at a wedding on New Year’s Eve! We submitted a clean, strong offer, won the bid and executed on New Year’s Day.Yes, I am dedicated to my clients no matter what is going on, but talk about a great way to start the New Year!

View of the Capitol down Congress Avenue

View of the Capitol down Congress Avenue

In a nutshell, 2014 looked a little something like this: Around 66,000 people moved into Austin, and over 39,000 jobs were added to the economy. Our strongest economic drivers were (and still are) population growth, technology and enterprise, the education and health sectors, and of course, the value added from our world famous festivals. SXSW, ACL, Fun Fun Fun Fest & F1 + many, many others contributed over $1.4 billion to Austin’s economy over the last two years alone. Collectively, these factors made 2014 a great year for Austin Real Estate. Check out the year’s stats in the graphic below.

Austin Area Market Stats for 2014

Austin Area Market Stats for 2014

Local economists are predicting that another 69,000+ jobs will be added to the economy in 2015 & 2016, and population growth will likely correlate directly. We are still facing the same housing obstacles that 2014 encountered– low inventory levels and affordability, but considering the simple supply and demand principle, 2015 will be another stellar year for the Austin real estate market.

If you know anyone thinking of buying, selling or leasing in the greater Austin area, give me a call or just send them my way! Always happy to help!

Happy Thursday!

Hope

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s