Your daily dose of Austin
Smartphone image
×
Make your inbox more Austin.
Local news and fun, every day 6am.
Travis County's eye-popping $637,000 median home price makes it the most expensive market in Texas

Austin's housing market is the second most overpriced in the U.S., according to a study. (Mueller Austin/Facebook)

Home prices in Austin average over $200,000 higher than they did four years ago, according to a realtor.com study.


The study found that the median value listing for Travis County homes reached a staggering $637,000 in February 2022, up over $200,000 from February 2018. Austin's median housing prices are now the highest in Texas, a stat that may not come as a surprise for many prospective homebuyers—a separate study in the same time frame found that the average price for a home is 65% higher than it should be when compared to historical listing prices.

The study, which comes from researchers at Florida Atlantic University, found that Austin's housing prices are more overpriced than all but one of the top 100 U.S. housing markets.

That crown goes to Boise, Idaho, a market with similar explosive growth that has homes priced 76% higher than the study says they should be.

As the fastest-growing large metro in the country from 2010-2020, Austin has felt both immense economic growth and the growing pains of a high demand market as newcomers from across the nation flock to the growing tech hub. The metro has the most expensive housing market in Texas and boasts record-breaking housing and rental prices, a trend that is causing some to leave the city as quickly as others move in.

And while some economists say a potential plateau could be on the horizon for the nationwide housing boom, the Austin Board of Realtors expects another "big year ahead" as Austin continues to top lists as the place to be for move-ins around the world.

Popular

1923 Lake Austin mansion demolition request pitting preservationists and some neighbors against owner and city preservation office
Austin Monitor

By Jonathan Lee

The Planning Commission was split Tuesday on whether to help save an eclectic lakefront estate from demolition by zoning it historic amid concerns over tax breaks and the likelihood that a previous owner participated in segregation as a business owner.

The property in question, known as the Delisle House, is located at 2002 Scenic Drive in Tarrytown. The main house, with Spanish and Modern influences, was built in 1923 by Raymond Delisle, an optician. A Gothic Revival accessory apartment was built in 1946. The current owner applied to demolish the structures in order to build a new home.'

Keep ReadingShow less
Freaky Floats and other Austin food & drink news
Austin Motel

What's new in Austin food & drink this week:

  • Nau's Enfield Drug closing after losing their lease. Did McGuire Moorman Lambert buy the building, with its vintage soda fountain?
  • Nixta Taqueria Chef Edgar Rico named to Time Magazine's Time 100 Next influencer list, after winning a James Beard Award earlier this year.
  • Question: From what BBQ joint did pescatarian Harry Styles order food this week?
  • Austin Motel is opening the pool and pool bar Wednesday nights in October for Freaky Floats.
  • Vincent's on the Lake closing due to "economic conditions and low water levels [at Lake Travis]."
  • Cenote has closed its Windsor Park location. The East Cesar Chavez location remains open.
  • The Steeping Room on N. Lamar has closed.
  • Local startup It's Skinnyscored new financing for its gluten-free pasta business.
  • P. Terry's opened a new location in Kyle, at 18940 IH-35.