AUSTIN, Texas -- The hot summer months are here and there’s no sign of Austin’s real estate market cooling off.
The Home Buying Institute recently highlighted Austin as one of Texas’ hottest markets, principally because of its population growth. That demand is good news for home values.
Austin added 12,500 residents between 2017 and 2018, increasing housing demand and limiting inventory.
According to real estate website Zillow, Austin home values increased 6.5 percent in the past year and are projected to increase another 3.4 percent in the next year.
The latest MLS stats support this prediction, with some Central Austin neighborhoods’ medial sales prices up 5 percent and even as high as 24 percent year over year.
However, if you look at the entire five-county metro area, the median homes sales prices were up 2 percent last year and up 3 percent year to date.
Only a handful of MLS areas saw a decrease in sales prices compared to last year.
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