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Austin tops Texas as most expensive metro to buy a home in the state


The last decade has been an expensive one for Texans, with the median price of homes soaring 76% statewide. While every Texas metro area is going up in price, only one can be crowned most expensive: Austin.

A new report from the Texas Association of Realtors showed that houses in the Lone Star State have been increasing in demand from 2011-2020, especially in the capital city.

In the last decade, median home prices in the Austin-Round Rock metro shot up by 82%, starting at $189,000 in 2011 and closing out at $343,914 in 2020. Austin was the only metro area to break an average price of $300,000, though Midland came close at $299,000.

(Texas Real Estate)

Not only are you paying a premium for the luscious Hill Country location, but you're also paying more per square foot. Between 2011 and 2020, the price per square foot went up 78%, from $115 to $205.

And you'd better be quick to close—while you might have had time to mull it over in 2011, with an average of 84 days on the market, it was a different story in 2020, as homes only spent around 45 days on the market.

Although $109.1 billion worth of homes were sold in the Austin area in the last decade, the city actually didn't see the greatest price increase. The honor of biggest price jump goes to Dallas, where median prices rose by 94%, from $149,900 to $291,000.

Austin also didn't see as dramatic a jump as other areas of the state—Sherman residents, in North Texas, saw price increases across the board. Median home prices jumped 130%, from $87,000 to $200,000; price per square foot is up by 107%, from $58 to $121, and home sales are up by 123%.

Austin originalists rejoice—moving to Texas may have become trendy over the last ten years but in terms of the four largest metros in Texas, Austin fell second to last for the number of home sales. Dallas sold nearly a million homes over the last ten years, Houston sold 811,105, Austin sold only 315,946 and closing out the list, San Antonio sold 292,322.

If you're looking for a cheaper place to settle down, take a look at Wichita Falls. With a median home price of $145,000, the savings can't be beat.


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