The Central Austin real estate market continues its upward trend. According the Austin Board of Realtors, 4,059 homes were sold in 11 Central Austin zip codes between June 2017 and May 2018, an increase over the previous year by 112 homes.
In nine of the 11 zip codes, the average home sales price increased. Values increased as much as 8.69% in 78756 (Rosedale and Brentwood areas), while the two zip codes where values fell were 78701 (downtown) and 78705 (the neighborhoods north and west of the UT campus). South Austin’s 78704 zip code saw the highest number of sales (884), while 78722 (French Place and Cherrywood) saw the highest increase in the percentage of homes sold (52.24%). If you’re looking in 78757, be ready to act, because homes in that zip code spend the fewest average days on the market (36.1).
For the first six months of 2018, the median price of a home sold in Central Austin was $460,500, which is up 3% over the similar January – June period in 2017. The median price for single family homes is $533,090, with the median cost for condominiums at $335,000. Total sales for January – June 2018 were down 0.5% compared to the previous year.
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