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Austin's housing market is doing great -- but some neighborhoods are selling more homes than others

The Central Texas housing market is on track to have one of the highest-grossing years on record.

AUSTIN — As the year comes to a close, Austin's housing market is as hot as ever.

The median home price is now up to just a little over $300,000 -- two percent higher than last year.

Some parts of town are seeing more sales action than others.

Matthew Teifke and Andrew Roberts own property management company, Tre Homes. Teifke flipped a home on Anderson Mill Road.

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"We came and looked at it and literally that day, we put it under contract,” Teifke said.

He said he understood the market, and he knew it was priced a little low.

"Austin is doing a good job of keeping up with the supply and demand of things,” Andrew Roberts said.

In just two days, the home was under contract after putting it on the market and is now almost ready to close.

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The neighborhood it was sold in is in one of the five top selling neighborhoods this year.

In East MLK, the median closing price is $340,000; in Oak Hill, it's $459,223; in East Austin, $435,000; in Sun City, $287,000; and in Northwest Austin, it's $342,000.

“It doesn't surprise me at all,” Kevin Scanlan, soon-to-be president of the Austin Board of Realtors, said. “Historically, in any medium to large-sized city, the numbers tend to be stronger the closer to downtown that you get."

According to the board, sales are up 3.3 percent year-to-date for 2018.

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Pending sales volume in December, the Central Texas housing market is on track to have one of the highest-grossing years on record, according to the board.

In the Austin-Round Rock metropolitan statistical area (MSA), sales volume slightly increased 0.7 percent year over year from 2,185 sales in November 2017 to 2,201 sales last month.

Five hundred and fifty homes closed this year in the Northwest Austin neighborhood -- and Teifke's is going to be another one. He's selling the recently-flipped house for $260,000.

"$250, $260 in Austin is hard to find,” Teifke said. “This is a decent, nice neighborhood.”

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Making the house a worthy investment.

"I think long-term, this area has a lot of potential,” Teifke said.


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