Austin Housing Market Report
July was a good month for the city of Austin’s housing market with home sales up. 1,970 single-family homes were sold last month which was a 32 percent increase over this same period of time last year. Home sales are rising but the median price of homes in the area is decreasing. The current median price of a home in Austin is $196,750, down 11 percent from July of 2010. Homes are staying on the market on average 5 percent longer than previously according to the Austin Board of Realtors.
The drop we are seeing in the median price of homes means that buyers are trending toward lower-priced homes. Judith Bundschuh, chairwoman of the Austin Board of Realtors said, “The increase in sales compared to the drop in price shows that Austinites are hunting for bargains.”
Lake Austin is a popular growing area where homes are selling. If you are considering buying a home consider the Bella Lago neighborhood located in western Travis County. Bella Lago is full of beautiful homes and an excellent school district. Bella Lago is nestled on the southern shore of Lake Austin, on a lovely wooded peninsula. Many of the homes in the area have been built in the past five years and are larger than the average property built in that time. Most homes are at least one acre. This means that home buyers in the area enjoy spacious properties and homes that offer extra space.
If a new home or condo in Austin is in your future, contact Kinan Beck. Contact us now at (512) 671- 7368. Kinan specializes in Downtown Austin,Lake Austin,Lake Travis, North/ Northwest Austin, South/ Southwest Austin, Westlake.