The Austin-Round Rock area is Texas’ most expensive residential real estate market, according to the Texas Association of Realtors® Midyear Review 2017. While this comes as no surprise to the people who live in Central Texas, it’s worth taking a look at where Austin-Round Rock area real estate stands in regards to pricing.
The report compared the median price for a home in the Austin-Round Rock area from January to June of the last three years. From January to June of 2015, the median price of a home was $260,000, which was a 9.5 percent increase over the previous year. From January to June of 2016, the median price of a home jumped another 7.3 percent to $279,000. From January to June of 2017, the median price for a home reached $295,000, an increase of another 5.7 percent. Based off this information, this means a median price home has increased about $35,000 in the last three years.
In a telling statistic, only 0.9 percent of homes that sold from January to June in the Austin-Round Rock area sold for $99,999 or less, and only 14.2 percent sold for between $100,000 and $199,999. The largest percentage of homes sold was from $200,000 to $299,999, at 36.2 percent, followed by $300,000 to $399,999 at 21.3 percent.
The ranges of $400,000 to $499,999 and $500,000 to $749,999 were comparable price categories as far as volume, accounting for 11.5 percent and 10.5 percent of sales, respectively. The range from $750,000 to just under $1 million accounted for 2.9 percent of home sales, and Austin’s most expensive luxury homes – those $1 million and up – accounted for 2.5 percent of all home sales.