|
We often get asked the question if we feel Austin will continue to grow at the levels we have seen in the past. It is a relevant question to be asked of a realtor but at the same time not one that we can guarantee. Investing in real estate, outside of the home you are going to be occupying can be a scarey task. There are no guarantees, but you can use historical data to make an informed decision.
If you look below you notice that area 5 saw the most appreciation last year. This is an area east of I-35, North of the river and south of FM 969. If you look closer you will also notice that prior to last year the average sales price of homes in that area was only $108k, so a little jump in price takes the appreciation rate up exponentially for a smaller or undeveloped property. We have seen older run down properties in East Austin now sky rocket with anticipation that the redevelopment in itself will continue to pull all home prices up as it grows at this pace. As a realtor I would suggest that we should see continued growth in East Austin for years to come (probably not at the 24% level) but now you will be paying above what I would consider to be the true value of the property that resides in an older area. People are betting on the come - rather than on value and now paying a premium.
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If you look at Area 4, you will see that it is still in the top 4 and actually grew at a rate of 21% last year. This area has been relatively hot for several years, with the continuation of rehabbed projects by investors that are buying up the area. It's close proximity to the University of Texas which offers a large consistent pool of renters, it's newer infrastucture, ease of access to downtown, and eclectic Austin appeal have allowed Area 4 property owners to demand a premium for their properties hitting well into the mid $200 per square foot levels. The same can be said for Area 1B which is located next to Area 4.
|
Area
|
2005
|
2006
|
Appreciation
|
|
5
|
$108,600
|
$135,000
|
24%
|
|
HS
|
$128,800
|
$158,750
|
23%
|
|
WW
|
$100,000
|
$122,500
|
23%
|
|
4
|
$227,000
|
$275,250
|
21%
|
|
6
|
$249,900
|
$295,000
|
18%
|
|
1B
|
$378,500
|
$440,000
|
16%
|
|
2
|
$187,800
|
$218,000
|
16%
|
|
8W
|
$408,000
|
$467,500
|
15%
|
|
7
|
$292,500
|
$335,000
|
15%
|
|
LN
|
$222,930
|
$255,000
|
14%
|
|
SW
|
$213,000
|
$242,000
|
14%
|
|
1A
|
$369,920
|
$420,000
|
14%
|
|
HD
|
$269,970
|
$306,540
|
14%
|
|
3E
|
$ 92,000
|
$103,900
|
13%
|
|
LH
|
$183,800
|
$205,750
|
12%
|
|
RN
|
$387,940
|
$429,500
|
11%
|
|
10
|
$134,000
|
$148,000
|
10%
|
|
3
|
$142,000
|
$155,000
|
9%
|
|
8E
|
$550,000
|
$600,000
|
9%
|
|
PF
|
$137,250
|
$149,600
|
9%
|
|
SE
|
$ 97,690
|
$106,000
|
9%
|
|
HW
|
$175,000
|
$189,180
|
8%
|
|
JA
|
$164,000
|
$177,250
|
8%
|
|
SE
|
$101,940
|
$110,000
|
8%
|
|
1N
|
$227,500
|
$245,000
|
8%
|
|
2N
|
$120,000
|
$129,000
|
8%
|
|
LS
|
$312,000
|
$335,000
|
7%
|
|
NW
|
$180,000
|
$193,000
|
7%
|
|
CL
|
$145,200
|
$155,110
|
7%
|
|
W
|
$311,000
|
$331,250
|
7%
|
|
BA
|
$119,900
|
$127,560
|
6%
|
|
SV
|
$110,000
|
$117,000
|
6%
|
|
RR
|
$160,000
|
$170,000
|
6%
|
|
SC
|
$154,400
|
$163,660
|
6%
|
|
11
|
$ 95,000
|
$ 99,900
|
5%
|
|
9
|
$136,250
|
$143,000
|
5%
|
|
CC
|
$100,000
|
$104,860
|
5%
|
|
HH
|
$136,500
|
$143,000
|
5%
|
|
HU
|
$129,930
|
$134,990
|
4%
|
|
GT
|
$165,000
|
$170,950
|
4%
|
|
MA
|
$125,570
|
$130,010
|
4%
|
|
N
|
$164,900
|
$170,100
|
3%
|
|
NE
|
$137,500
|
$140,000
|
2%
|
|
WE
|
$ 76,200
|
$ 77,000
|
1%
|
|
TC
|
$ 94,220
|
$ 93,500
|
-1%
|
|
BW
|
$120,650
|
$117,000
|
-3%
|
|
EL
|
$111,840
|
$105,000
|
-6%
|
|
