Dont let the median price of a home in the Austin area fool you. It is true that the median value of homes in the Austin area is lower than the national average. However, this can be a bit deceiving.
Many investors, retirees and people relocating for jobs have seen the have been attracted to our area because of how inexpensive homes are here. It is true that the median price of a home in Austin is not very high relative to other places in the country. In May, the median price of a home in the Austin MLS Area was $174,000. The average sale price was $236,406.
This year, I have talked with a number of people relocating to Austin from California, Phoenix, Florida and other areas. Many have thought they could pick up a pretty nice home for a relatively low price. This is where the misconception comes in.
There are parts of Austin in which homes really are pretty inexpensive. This includes much of Cedar Park Leander, Round Rock, areas in East Austin, areas east and northeast of the Austin city limits and much of South Austin and outlying areas south and southeast of Austin. These are all areas in which home sales are tracked by the Austin Board of...
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