The Austin, Texas Real Estate Market
The “Superfecta”

1. The local economy is strong, Samsung is completing a $4 Billion chip manufacturing
plant, and major employers are hiring.
2. In 2006, sales of single-family homes pumped $6.36 Billion into the local economy, a
20% increase from 2005.
3. The median home sales price increased 6% to $174,500, and many areas are seeing
double-digit appreciation.
4. Highways 130 and 45 are now open and have dramatically improved the traffic flow and
access to Houston, Dallas, and San Antonio.

• Local economists predict that 2007 will continue the local central Texas boom trend
• Office and apartment vacancy rates continue to improve
• Office and apartment rents continue to increase

A brief overview of Austin:

• State Capitol of Texas
• Population approximately 1.4 million
• Approximately 45% of population have bachelor’s degree or higher
• University of Texas, approx 50,000 students, largest in US
• Austin Chamber of Commerce website: www.austinchamber.org

Austin Housing

Every day sees the arrival of more and more newcomers to Austin. With this steady increase in population comes a correspondingly high demand for both new and existing housing. In this hot real estate climate, houses in some parts of Austin will sell within days of going on the market. The market is especially tight for existing houses in the $80,000 to $175,000 range.

Buying a House
Although it seems that housing costs are rising faster than other expenses in Austin, actual costs are still competitive when compared to cities now attracting similar industries and people. All areas of Austin have pockets of good residential properties, and new developments in and around the city have added a variety of beautiful, accessible and competitively priced neighborhoods. In 1st quarter 2003, the median price for an existing single-family home was $157,700 (Source: National Association of Realtors). In 2006, the median sales price rose to $174,500.

Renting an Apartment
In 2006, the Austin MHA experienced an increase in rental occupancy rates to approx. 95%. It is estimated by the Austin Chamber of Commerce that 600 to 800 people are currently relocating to Austin per day. The austin, Texas Real estate Market.