Are you planning on buying real estate in Austin Texas this year? If so, you’re making a smart choice!
The Austin Texas real estate market has continued to be on fire in recent years and a recent study has also shown that the ATX area is also a great place to buy a property if you want it to increase in value.
368% Growth Since 1997
Thanks to a recent study by Smart Asset, we know that Austin Texas real estate has appreciated by 368% since 1997.
Compare that with Flint, Michigan, the lowest-ranking market. Homes have appreciated by an average of 83% in the same period and carry a 45% chance of losing 5% or more in value within 10 years.
While past performance does not guarantee future results, the study provides a snapshot of a given market’s desirability over time.
As an investment, Austin homes have offered a return on investment of 14.72% per year, greater than the 9.35% return on the S&P 500 at that time. That’s significantly higher than in Flint, which averaged a 3.44% annual return over 25 years.
Several other cities also outpaced the year-over-year gains in the S&P index in the last 25 years, including Boulder, Colorado; Midland, Texas; Rapid City, South Dakota; and Fort Collins, Colorado.
Of course, this all assumes that you can afford a home in such an overheated market. Although prices vary by region, the overall cost of a home continues to rise: The median sales price for existing homes in the U.S. is up by 15% compared to this time last year, according to data from the National Association of Realtors.
Are you thinking about buying or selling a property in the Austin Texas area? I can help you with all of your real estate needs.
To get started, contact me today by calling (512) 944-7378 or click here to connect with me online.