Austin, Texas Real Estate
Unlike real estate markets nationwide, the Austin real estate market is booming. Recent data indicate that demand for real estate in the Texas capital is up by 10%. According to one source, the median sales price of a single-family home in Austin increased 7% to $174,000. So why is the demand for Austin real estate heating up while in the rest of the country's, if analysts are to be believed, real estate markets have cooled off?
It is not only the strong business climate that is driving demand for Austin real estate. It is also the many cultural activities and opportunities for outdoor activities that the city provides. Austin is a city that people love to live in. Runners and Hikers can take advantage of the many trails that cut through the city. These trails provide access to the natural beauty that, no doubt, makes Austin real estate so desirable. Austin has dedicated much of its open space to hiking trails. In addition to the 10.1 mile Town Lake loop that runs from MoPac to Longhorn Dam, newer trails have been constructed throughout the area.
Runners put that training to the test in the annual Keep Austin Weird 5k, held in early June. The race is part of the annual “Keep Austin Weird” festival, filled with live austin music. In Austin, those who like to sweat on the running trail are equally at home with those who would rather sweat in a line dance—just as those who spend their days and nights writing code are equally at home with those who spend their time writing songs for acoustic guitar. It is this combination of bohemian energy and technical savvy that makes the city’s work force so attractive to employers, a combination that contributes to the demand for commercial real estate in Austin.
Austin real estate continues to be hot mainly because Austin is a great place for workers and for businesses. Between November 2005 and November 2006, 24,800 jobs were created in the Austin area—which means that workers are continuing to move to Austin to fill positions in its thriving technology industry.
The robust business environment in Austin creates a virtuous circle: the healthy business climate brings workers to Austin Texas, workers who in turn contribute to the health of Austin real estate by purchasing condominiums and single-family homes. It is easy to see why employers would want to locate their businesses in Austin: Austin has a highly educated, highly motivated and—as Austin markets itself—creatively “weird” workforce. These workers love Austin, and its real estate, because of the natural beauty, the thriving economy, and, of course, its weirdness. “Keeping Austin Weird” keeps Austin real estate flourishing.
Ronnie Bredahl, Austin Realtor
Austin Real Estate Broker
4802 Woodside Drive
Austin, Texas 78735
info@austinreferralrealty.com
Telephone: (512) 785-9050
