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Austin Home Market More Competitive Than Ever

March 21, 2021 7:04 pm

Median asking prices for homes in Austin TX have increased dramatically in the past year, leading the country in this nationwide trend. The median listing price for a home in the Austin-Round Rock metropolitan area increased by 15% from January 2020 to January 2021. It now stands at about $370,000.

The increase is driven by several factors. The main one is a shortage of homes on the market, which means buyers have to compete with each other to win the homes they want. Record low mortgage rates are another factor motivating people to buy now. Other reasons affecting the country as a whole include millennials moving into the housing market and remote workers looking for larger homes.

In Austin, the shortage is especially severe because the area is attracting more new residents than ever before. A growing list of major tech companies are based in or have large campuses in Austin. Despite the rising home prices, central Texas is also relatively affordable compared to many other major metropolitan areas. It also benefits from a good climate and an abundance of musical venues, a strong creative culture and attractive outdoor recreation options.

At Buffington Homes, we’re working hard to keep up with the demand for new homes in central Texas. We build attractive, energy-efficient homes in some of the most popular communities in the Austin area.

In San Marcos, our communities are TRACE, Blanco Vista and La Cima. The city of San Marcos is about 40 minutes southwest of Austin and is the home of Texas State University.

Dripping Springs, where we build in the Esperanza community, is about 40 minutes west of Austin on Highway 290. The city is known as the “Gateway to the Hill Country” and is famous for Hamilton Pool, a natural swimming hole with a waterfall and grotto.

East of Austin, we have three communities. The Colony is located in Bastrop next to the Colorado River. Whisper Valley is a high-tech, eco-friendly community just south of Manor. ShadowGlen is our golf course community in Manor.

Keep up with our new housing starts by getting on our VIP list. You’ll be informed when we begin work on an available home in 2021. Live chat with Kyle or call 512-856-5664 today to get on the list or schedule your personal tour of any of our communities of new homes in Austin TX.

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