What is REALLY going on in Austin real estate?
Austin real estate is usually a predictable market... MLS areas closer to central Austin tend to do better than the suburbs, but then as we all know, things always change!
For the first time since I have been following this statistic, there are 3 suburban areas in the Top 10 "Hot" areas in the Austin MLS! Simply put, the number of home sales last month compared to the number of homes actively for sale was higher in these areas than the vast majority of the Austin MLS.
Round Rock West, Round Rock East, and Cedar Park/Leander North all placed in the top 10 for all the 60 MLS areas in Austin!
Now keep in mind that although we'd love to believe that homes sales in these areas skyrocketed last month, that is not actually what happened... most areas of the Austin market that usually place higher actually performed at a lower level than typical.
That's not all bad news, because these areas remained stable and did not fall off in performance, thus their high placement in the "Hotness" Ratio.
Although the Cedar Park/Leander real estate market has placed higher than pother suburbs ovet the long term, Round Rock West and Round Rock East are relative newcomers to these high ratings.
Although you might think that lower priced MLS areas are the ones probably doing better, that is not the case... (that's why you read blogs like this) fully 50% Of the Top Ten "Hot" areas are higher priced areas including Westlake and Northwest Austin.
Predictable is getting a little harder than it used to be, but keep reading this blog and we'll do our best to let you know what and why we can make some predictions.
Make it a Powerful Day!