In addition to residential real estate, billions of dollars of commercial and civic projects are underway in downtown Austin – plus there is the astounding economic impact of tourist events, such as the upcoming Circuit of the Americas races.
Austin, Texas (PRWEB) November 21, 2012
Austin luxury homes are on track to reach 260 sales for 2012, compared to 56 luxury homes in 1999, according to research by Austin’s premier luxury brokerage Regent Property Group, which would indicate a 365% increase in over a decade of tremendous growth in real estate and in a thriving, expanding local economy.
Austin luxury properties generally are located in Central Austin, Westlake, and in areas with Lake Austin waterfront and water or Hill Country views, and are priced from about $1 million to close to $20 million.
"While Austin residents love living in ‘a small town within a big city,’ the truth is, we’ve grown up, and that is evident in the growing number of high-dollar real estate transactions,” said Regent Property Group Founder Brian Talley. “Austin luxury real estate now comprises a sizeable segment of Austin home sales, and, these days, that ‘Average Joe’ or ‘Average Jane’ we see at the coffee shop just might be a multi-millionaire startup mogul, an entrepreneurial genius, or even a celebrity.”
Regent also discovered a marked increase in recent sales of luxury properties in Austin. As of October 12, 2012, 225 luxury homes had been sold in 2012 in Austin. This is an 18.4% increase over 2011, when 190 luxury homes were sold in this same time period in Austin.
Looking specifically at Central Austin real estate data, again the number of luxury homes sold shows increases: a 39% increase in Central Austin luxury homes sold in 2012, compared to 2011 in this same time period, and a 29% increase in Central Austin luxury homes sold in 2011, compared to 2010 in this same time period.
“It’s obvious there are record amounts of money pumping into the local economy,” said Talley. “In addition to residential real estate, billions of dollars of commercial and civic projects are underway in downtown Austin – plus there is the astounding economic impact of tourist events, such as the upcoming Circuit of the Americas races, Austin City Limits, SXSW, and University of Texas football.”
Read the full Austin Luxury Home Report. Those interested in purchasing an Austin luxury home are advised to research the Regent Property Group-crafted Luxury Home Lingo primer to learn about the options available to luxury homeowners.
About Regent Property Group
Regent Property Group LLC is a top Austin real estate company owned and managed by real estate broker and luxury home REALTOR® Brian Talley. Talley and his seasoned, professional team of Austin REALTORS® provide one-on-one real estate services to their customer base, ensuring they receive the highest level of care and satisfaction. With such an important process, it is crucial to utilize the best technology and to work with the top Austin real estate agents, and you can trust the agents with Regent Property Group. Media: Please contact Brian Talley at info (at) regentpg (dot) com.