The Real Estate Star of the Lone Star State

Posted by Mary Ann Castro on Thursday, March 31st, 2016 at 11:06am.

When a state is given a tagline of "Everything's Bigger in Texas" you might find that some rather large expectations are attached. Located in the heart of Texas, Austin is a prime example of a city coming through with some big real estate increases.

Austin, Texas starAccording to the latest stats from the Austin Board of Realtors, Austin-area single family home sales have increased by 2.9% as of February 2016. Additionally, housing prices have risen 7.6% since the same month last year, to an average price of over $333,000.

It doesn't appear that the proverbial fire will be put out any time soon in Austin either. Austin has been rated as the number two place to live by the U.S News and World report, which gave the city a score of 7.7 out of 10. It is estimated that about 50 people move to Austin every day to enjoy various aspects of the city, ranging from climate, schooling or entertainment. The city itself is filled with historical significance from a statue of popular musician Stevie Ray Vaughan to the LBJ Presidential Library at the University of Texas at Austin.

One of biggest benefits to buying property in Austin, is the fact that the city does not have a personal or corporate income tax. While the cost of homes has risen with the city's soaring popularity—the median sales price of a home is over the national average—the lack of taxes that are associated with living in the city serve as an enticing option to those who are looking to purchase a home.

Austin, Texas is home to a multitude of options as it pertains to activities. From donning some burnt orange clothing and a pair of longhorns to cheer on the college football program to being in the stands for sights and sounds of auto racing, there is no shortage of activities for residents of any age.

To become a member of the Austin community today, register and get instant alerts on new homes. If you'd like to see more stats on the market, see this handy infographic with the latest numbers.

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