The hot Austin real estate market didn’t disappoint the speculators and only seemed to rapidly gain steam as the summer months drew on. But, how did we get here? Despite a brief 3-year decline during “The Great Recession” of the late-2000s, the Austin real estate market very quickly bounced back. Between 2011 and 2013 alone there were 9,000 more homes sold in Austin—going from a paltry 21,208 to over 30,000. Take a look at these numbers and more in the image below.
936 more homes sold in August 2017 than August 2016.
Home prices up 5.5% in 2017.
16% more homes put up for sale in August 2017 than August 2016.
Inventory is still well below 2010’s balanced market.