Real estate in Austin shows no signs of cooling down

There have been some beautiful days here in Austin, Texas. I think it feels extra good to be outdoors after a spring season spent mainly watching the news and a long hot summer. Learning how to survive, cope, and thrive in our new normal took time away from the outdoors, as we spent even more time in front of our laptops. COVID-19 has taken us through the many stages of grief for a variety of reasons, so even though fall is already upon us, spring is somehow in the air as we leave the laptops behind to line up to vote, get flu shots, and send the kids back to school. Overall, Austin has pivoted well to life’s new hurdles, while it is not immune to the toll it has taken on the bars, restaurants, and entertainment venues. The jobless rate is continually showing signs of improvement which may be turning even more people to look in Austin’s direction. The result is that new interest in Austin only increases the demand for housing.

Austin housing is in high demand as the commercial market withTesla, Amazon, and Lowe’s continue to grow

There are a lot of buyers in the market right now for a home in Austin. Some have been in this market for a while and are just waiting to be chosen from the multiple offers they have submitted over the last few months. Other buyers are moving to Austin for employment opportunities. As businesses expand their footprint, jobs continue to grow. In the past 2 weeks, I have posted consistently on Support Local Austin’s Facebook page articles highlighting BAE’s campus expansion in the north, Lowe’s and Amazon taking over new real estate in Kyle, and Tesla buying additional land in the east.

The Austin Real Estate Market is Thriving

The seller’s market has much to offer current homeowners in Austin as well. Interest rates are still at historic lows and with inventory consistently falling short to keep up with the demand, prices year-over-year keep rising. The Austin Board of Realtors reported home sales to show that September (during a pandemic and election year), across the Austin-Round Rock metropolitan statistical area, soared 31.5% YOY to 3,892 sales. The weather may have cooled down, but the Austin real estate market certainly hasn’t.