Monthly Archives: October 2014

Austin City Limits Music Festival Real Estate Recap

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Austin City Limits Music FestivalThe Austin City Limits Music Festival has come and gone for 2014 leaving a large boost for Austin’s economy in its wake. Headliners including Outcast, Eminem and Pearl Jam contributed to both 3-day weekends selling out to roughly 75,000 visitors per day. The estimated total in revenue was $175 million for Austin in 2013.

Much of the economic contribution is from out of town guests visiting and staying in Austin for the festival. Roughly sixty-six percent of ACL festival attendees are from out of town and spend an average of nearly $900 per day on food, lodging and retail.

For attendees curious to know what homes are worth near the Austin City Limits Music Festival, below lists up-to-date market data specific to real estate for sale located within 1 mile of Zilker Park:

Austin Condominiums for Sale near Zilker Park:

  • Current Number of Active Homes: 23
  • Total Number of Pending and Active homes: 31
  • Average List Price: $487,884

Austin Single Family Houses for Sale near Zilker Park:

  • Current Number of Active Homes: 14
  • Total Number of Pending and Active homes: 25
  • Average List Price: $1,465,393

Other Zilker Park events include the Zilker Kite Festival, Blues on the Green and the Zilker Trail of Lights lending it to be a source of  consistent entertainment year round.  Homes located near Zilker Park are considered prime real estate and are consistently low in supply and high in demand.

731 Minturn Lane Open House

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731 MinturnSouth Austin, single story home in the subdivision of Buckingham Estates features 3 bedrooms and 2 baths with MIL  plan. 731 Minturn Lane is located Austin’s 78748 zip code near Southpark Meadows and Mary Moore Searight Park.

731 Minturn Lane For Sale in Buckingham Estates

Three sides masonry and vinyl siding. Kitchen open to family room. Updates include recent paint and tile flooring. Formal dining and spacious living area with laminate flooring. Carpet flooring is only in the bedrooms. Spa like master bath features recent tile, paint, fixtures, double vanity, garden tub and separate shower.

South Austin Open House

731 Minturn Lane is open Saturday, October 11th from 12:00 – 3:00pm

  • Number of Stories 1
    Square Footage 1,532 (tax record)
    Number of Living 1
    Number of Bedrooms 3
    Number of Bathrooms 2

Austin is Growing Up and Growing Out

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construction picAustin is experiencing growing pains. It is hard to turn a corner right now and not experience a construction zone, road closure or at best, a wall of traffic. Texas overall has had a net gain in new residents for several years now and within it, Austin is one of the top cities showing the fastest growth.

Austin by the Numbers

Reports show that the number for increased residents in Austin for 2014 nets at 110 per day. The growth for Austin started surging years ago, but the infrastructure never had a chance to keep pace and is now playing catch up. As residents, we have experienced this in commuting times and all the way down to line for groceries.

With all of this change in the air, Austinites are forced to face a new normal. Austin is literally growing up. Mixed-use office, hotels and apartments buildings are under construction or in the planning stages throughout Austin. Over 17,000 apartment units alone were under construction or planned as of April 2014.

Austin Real Estate Trending Now

One real estate market trend has been in the greater Austin area, which is very hot right now and where I am seeing most of the growth. Now buyers are looking and buying in Cedar Park, Georgetown and Leander because the core of Austin has become less affordable for many.

Another trend is in new construction. New communities are popping up or expanding. People are out with the old and in with the new.

The largest real estate trend I see in Austin is in market area searches. As the Austin area inventory is low, buyers are expanding their search area. It used to be that I had a search set up for someone just in one subdivision like Travis Heights. That buyer today, would be looking in the greater Central Austin area just to have the same selection of homes.