The Austin Board of Realtors says there has been a $100,000 jump in the median home sales price in Austin in just six months.
One couple who had their North Austin home on the market for $450,000 in April received a cash offer for $615,000.
KUT reports “A buyer offered $615,000 in cash for their North Austin home; the couple was asking $450,000. It was one of 25 offers they got in three days.”
The Austin Board of Realtors revealed the median home price reached an all-time high of $566,500 in May, jumping nearly 35% year-over-year.
"According to an analysis of moving van data by Zillow, those relocating to Austin in 2020 were most likely to come from one of three California cities: San Francisco, San Jose or Los Angeles. Another statistic, this time from an analysis of U.S. Census Bureau data by the City of Austin demographer: Between 2019 and 2020, people moving from other parts of the U.S. (not just California, but other states and Texas counties) accounted for 73% of the population growth in the Austin area.”