Austin’s Flaming Real Estate Leaks to Surrounding Suburbs

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The Austin Board of Realtors reported shocking numbers in sales during the month of September. The spring shutdown led to a flurry of summer sales which continued till September. Overall, the five-county metro area, including Travis, Williamson, Hays, Bastrop, and Caldwell, saw a 51.7% jump in sales volume and a 12.1% climb in median sales price.

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ABOR president Romeo Manzannila said that the housing market is pumping billions of dollars into Austin’s economy at a time it’s greatly needed. Having said that Austin’s suburban markets have historically offered housing stock at lower price points that created opportunity for people when buying or renting inside Austin city limits was not an option.

Travis county last month surpassed the city of Austin’s median home price with 13.8% increase. These trends are echoed in neighboring counties, where median home prices increased, though some more than others. Williamson and Bastrop counties both saw an upshift in median home prices. Hays saw the highest leap in price with 15.1% jump. Manzannila showed concern over the first time home buyers saying Austin area needs houses at all price points so that it’s affordable for all.

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