Thanks in part to national media coverage highlighting its stable job growth and thriving cultural center, Austin has become a popular city among Texas natives and out-of-state transplants alike. Because it is a big city with a small town feel, the homes for sale in Austin span nearly every common single family home price range. The current market conditions certainly reflect this; take, for example, Austin real estate’s second quarter stats in 2009.
First, it’s important to note that Austin neighborhoods are divided into around a dozen MLS areas, each with its own median home price. Without identifying the exact location of each area (your agent will be happy to do that for you), a quick look at the stats (as of the Q2 report) in each of them follows:
MLS Area 1A: $574,900/Current listings: 110/Foreclosures: 0/Months of Inventory: 7.9
MLS Area 1B/Median Price: $799,000/Current Listings: 242/Foreclosures: 2/Months of Inventory: 14.7
MLS Area 2/Median Price: $270,000/Current Listings: 125/Foreclosures: 1/Months of Inventory: 5.2
MLS Area 3/Median Price: $215,000/Current Listings: 137/Foreclosures: 5/Months of Inventory: 5.9
MLS Area 4/Median Price: $359,900/Current Listings: 151/Foreclosures: 1/Months of Inventory: 8.0
MLS Area 5/Median Price: $239,900/Current Listings: 156/Foreclosures: 2/Months of Inventory: 8.1
MLS Area 6/Median Price: $479,000/Current Listings: 131/Foreclosures: 1/Months of Inventory: 8.5
MLS Area 7/Median Price: $469,000/Current Listings: 35/Foreclosures: 0/Months of Inventory: 5.8
MLS Area 8e/Median Price: $995,000/Current Listings: 191/Foreclosures: 0/Months of Inventory: 14.8
MLS Area 9/Median Price: $149,995/Current Listings: 32/Foreclosures: 4/Months of Inventory: 8.5
MLS Area Downtown/Median Price: $1,150,000/Current Listings: 6 Foreclosures: 0
Months of Inventory: (N/A)
MLS Area Uptown/Median Price: $475,000/Current Listings: 30/Foreclosures: 0
Who knew one city contained an option for nearly any housing budget?
Source: http://www.weloveaustin.com/markettrend/