As Austin continues to break records in growth, more and more people are wondering, if now is the ideal time to sell? Are we at the top? Can we go higher? If I do sell, can I afford anything better? Simply put…yes. It is an excellent time to sell.
There is no question that the Austin Real Estate Market is hot, hot, hot. Austin has made almost every “Top 10 Cities in the US to Live” article for the past decade. From high tech to micro brews it seems like every company, start up and blue chips alike, have an office or a head quarters here. According to the US Bureau of Labor Statistics; Austin’s unemployment rate is an exceptional 3%. That is a 1.3% lower than Dallas and approaching half of the national average of 5.3%. According to the Austin Business Journal there are 110 people moving to Austin daily. That is right, daily. Prices are so high that even many Realtors are speaking out about the high cost of real estate!
It is no wonder that so many people want to live in Austin. We have the hill country, the Highland Lakes, a booming economy, several top universities, government infrastructure, enormous high tech industry, and excellent medical service. All of these factors continue to push the price or real estate and the cost of living higher and higher. It is a simple case of supply and demand. Our once sleepy little college town is now the 11th largest city in the United States. My-oh-my how things change.
March was a bumper month for the Austin Housing Market. “Austin-area single-family home prices hit an all-time high, while single-family home sales volume set a record for the month of March according to the March 2015 Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®.” -Austin Board of Realtors. Austin home prices have increased 10% in the last year alone and volume of sales is up 13%. I think it is safe to say that the demand is matching (and driving) the price increases. Can prices go higher? Yes. Are we at an all time high? Yes.
Barring an economic calamity I do not see a major down turn in prices, but I do believe that we are flying close to the sun as far as the height of prices. There are still deals to be had on the market, and there are definitely excellent purchases to be made for the long haul. If you have an investment property that you are looking to get top dollar for, now is an excellent time.