Austin Real Estate Market: Balcones Woods Neighborhood

Posted by Dan Burstain on Monday, September 8th, 2014 at 3:07pm.

balcones-woods-austinDid you hear that BOOM?  No, that wasn’t a transformer blowing.  That was Balcones Woods crashing through another price barrier.  We are into the $200/sqft arena now and, in my opinion, any house in our neighborhood could sell for over $300,000, many closer to $400,000 and above.  The Austin real estate market is booming all over and with our neighborhood's great schools, access to 183 and MoPac, proximity to the Domain and lots of new employers like Apple, we are smack dab in the middle of a high demand area.

So why all the craziness in the housing market? 

It really is quite simple.  Demand is significantly exceeding supply.  For the past decade, the Austin Chamber of Commerce has been actively recruiting businesses to move to Austin, focusing primarily on those in California, the Upper Midwest, and the Northeastern states.  These efforts combined with our business friendly environment and relatively affordable cost of living have made Austin a hot spot for real estate.  In the past decade, over 300 companies have moved to Austin and for the past 4 years, Austin has topped FORBES’ annual list of America’s Fastest-Growing Cities.  More than 80,000 people have moved here just in the last two years.  All these new people have bought up all of Austin's excess housing inventory.  2013 was the highest sales year on record for the Austin area. 

Although all of this demand has driven home prices higher, Austin is still more affordable than many other large cities.  The median price for a home in Austin currently is around $226,300 which may seem high to us but is less than half what a house costs in Los Angeles or New York.

6 Properties Found. Page 1 of 1.
Austin Real Estate Listing
New Listing

4107 Balcones Woods Dr, Austin

$560,000 - 4 Beds, 2 Baths, 2,304 Sf

MLS® # 6260639

Engel & Volkers Austin
Austin Real Estate Listing

11315 Alhambra Dr, Austin

$547,000 - 3 Beds, 2 Baths, 1,968 Sf

MLS® # 1887237

Realty Austin
Austin Real Estate Listing
New Listing

11101 Valencia Cir, Austin

$535,500 - 3 Beds, 2 Baths, 1,936 Sf

MLS® # 9645959

Realty Austin
Austin Real Estate Listing
Reduced 3%

4006 Balcones Woods Dr, Austin

$499,900 - 3 Beds, 2 Baths, 2,011 Sf

MLS® # 5072190

Watters International Realty
Austin Real Estate Listing
New Listing

11411 Santa Cruz Dr, Austin

$3,200 - 4 Beds, 2 Baths, 2,304 Sf

MLS® # 9849949

Nest Properties Austin
Austin Real Estate Listing
New Listing

11306 Toledo Dr, Austin

$2,495 - 4 Beds, 2 Baths, 1,706 Sf

MLS® # 1084598

ARCH Properties

So how long can we expect the housing market craziness to continue?

To predict real estate growth, you look at population growth which, in turn, is driven by job growth.  There's no sign of either slowing down.  Texas is projecting more than 30,000 new jobs coming in 2014 and another 30,000 in 2015.  110 people are moving to the Austin metro area every day and the inventory of available homes is at a 13 year low. 

Builders are working fast and furious, but they are only projected to build about 10,500 homes this year and, of course, none of those new homes will be in Balcones Woods.  So for at least the next year or two, we can expect that housing in our neighborhood to remain in a seller's market, driving prices possibly even higher.  So although you might be grimacing as you read your property tax bill while waiting in bumper to bumper traffic, enjoy the fact that your home equity wealth is significantly increasing on a daily basis. 

If anyone would like to receive more info on this data or a free market analysis of their home I would be happy to help.    

Dan Burstain, Realtor®
JB Goodwin REALTORS
Dan@JBGoodwin.com
Cell: (512) 588-3260
Fax: (512) 588-1717

Service with Real Estate Investing - Sales - Leasing - Apartment Locating - Credit Repair 

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The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS) from June 24th, 2019 at 4:00am CDT. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein "AS IS" and without any warranty, express or implied. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.

All information provided is deemed reliable but is not guaranteed and should be independently verified.

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