AUSTIN (KXAN) — New numbers provide further proof, Austin is the hottest real estate market in the country.
The capital city is now No. 1 in the country for fast home sales, with 40 percent of homes selling within seven days. The average is 10.
Average sale prices are cresting too, running about $60,000 more than Texas cities like Dallas, Houston and San Antonio with no significant slowdown in sight.
“In some areas we saw 10 percent price increases,” said Bradley Pounds, sales manager at Watters International Reality. “The double digit increases may not continue, however, there will be a significant price increase in 2015.”
A big reason the housing market remains strong is because of the consistent growth Austin is seeing.
Earlier this year the city demographer said 110 people move to the capital city every day on average, and that takes into account all of the people who leave.
As of this April, the city demographer said Austin’s population is more than 865,000.
The entire metro area has a population of nearly 2 million...more