Stay connected with the latest Austin real estate news. See what's happening in Austin and stay ahead of the game in this increasingly competitive market. Courtesy of JBGoodwin REALTORS®. This month we feature stories on millenial homebuyers, record setting sales in November and more.
Austin one of the best cities for millennial homebuyers, CNN Money
It's official, Austin is one of the best cities for millennial buyers says an article by CNN Money. With lots of tech employers offering employment, and a job growth of 4.2%, it's no wonder why so many millennials are attracted to Austin. In fact, about 110 people are moving to Austin every day, many of which are under the age of 35. While homes in Austin aren't exactly cheap, high wages more than make up for pricey real estate in the city center. The silver lining? The new construction opportunities are plentiful, if one doesn't mind the commute.
Austin home sales, median price set record for November, American Statesman
According to the latest Austin housing figures, by the Austin Board of REALTORS® (ABOR) things are not cooling down this winter. The booming real estate market saw its third consecutive month of home sales volume and median sales prices in November. Home sales in Austin increased 5.6 percent, when compared to the same period last year. November also set records for median sales price of $245,000, compared to $220,000 last year. ABOR president Bill Evans says that "...supply-and-demand imbalance continues to push home prices higher. That's great news for Austin homeowners looking to sell..".
Big Tex, indeed: Texas added more residents than any other state, Austin Business Journal
New U.S. Census data has revealed that Texas added more residents than any other state in the past year. From July 2013-July 2014, Texas grew by 1.7 percent making it the third-fastest growing state in the U.S. Texas was only behind oil-fueled North Dakota, and Nevada which took 1st and 2nd spots respectively. The state also remains the 2nd largest state in terms of overall population at 26,956,958 people. Ahead of Texas was California at 38,802,500 people and Florida in third position at 19,893,297 people.
More student housing to spring up along East Riverside in Austin, Austin Business Journal
The Ballpark is about to get a 1.5 million face-lift. Nimes Capital of Los Angeles purchased the property for $29 million in October, and has already renovated two-thirds of the units. Nimes also hopes to convert an athletic field into more student housing units in the next three years. The company is taking measures to reduce the property's environmental footprint by installing artificial grass. Multifamily senior and student housing will be the focus of Nimes' operations in Austin. Remodeling older buildings versus new construction will be the main approach, according to Nitin Chexal, Nimes' director of real estate.