Only two zip codes in the Austin area managed to increase in value per square foot during this four-year time period: 78701, a downtown area fueled by the development of Austin condos, and 78746, an area of Austin luxury homes.
Austin, Texas (PRWEB) February 13, 2012
Comparing Austin home prices per square foot from pre-recession year 2007 to the latest available data, 2011, Regent Property Group determined that the greater Austin area declined over 10 percent in sold price per square foot. Only two zip codes in the Austin area managed to increase in value per square foot during this four-year time period: 78701, a downtown area fueled by the development of Austin condos, and 78746, an area of Austin luxury homes west of the Colorado River that is home to coveted Eanes ISD schools.
Generally speaking, areas west of I-35 experienced less of a decline than areas east of I-35. Areas that performed better than average include Southwest Austin (zip codes 78749 and 78745) and 78703, which is generally along the MoPac corridor, north of the river.
For more Austin home prices per square foot comparisons, visit Austin Home Sold Prices per Square Foot - 2011 Data Compared to Pre-Recession 2007.
When comparing overall home sales, a handful of area zip codes showed improvement over 2007.
- 78665 showed a 63.3% increase.
- 78701 showed a 25.8% increase.
- 78738 showed an 18.2% increase.
- 78719 showed a 16.7% increase.
- 78725 showed a 14.8% increase.
- 78723 showed a 4.7% increase.
- 78732 showed a 1.2% increase.
Considering buying a home in Austin?
There are different angles to consider when deciding where and when to purchase an Austin area home. On one hand, buyers may find the best value where prices have dropped the most. On the other hand, buyers may find more comfort in purchasing a home where prices have been the most stable. Either way, Austin continues to demonstrate continued growth and relative employment stability compared to national trends, which suggests long-term demand for Austin homes for sale. If you are considering purchasing an Austin home, Regent Property Group can prepare buyers for this process with a complimentary Austin home search feature that emails targeted listings as they become available.
Considering selling a home in Austin?
Regent Property Group’s Austin zip code map with price per square foot information provides a general idea of what to expect for price changes in your area when preparing your Austin home for sale. It is important to note, however, that each subdivision, street, and property type contains different market dynamics that may or may not be consistent with your general zip code pricing. Determining a property’s value requires a market analysis specific to your home. If you would like a value analysis for your Austin home, Regent Property Group can prepare one for you, with no obligation on your part.
Source: The raw data in this report was provided by the Austin Board of REALTORS® but interpreted by Austin Realtor® Brian Talley of Regent Property Group. The information contained herein is subject to errors, omissions and changes without notice. Any information, statistics, analytics, recommendations or opinions provided in this report are subject to errors and/or omissions and are not in any way guaranteed as accurate or reliable by Brian Talley or by Regent Property Group LLC.
About Regent Property Group:
During 2011, Regent Property Group Founder Brian Talley was the #11 top selling agent (top .21%) for total dollar volume sold out of over 5,000 REALTORS® in the greater Austin area. Over the past four years, Talley has been a top producer, closing multi-million dollars’ worth of transactions for homes located all over Austin, specializing in luxury and Lake Austin waterfront homes. Talley has been active in real estate since 1998 when he began his career working in retail development, sales, and marketing. He formed Regent Property Group to serve the needs of Austin’s residential real estate clients, helping people buy and sell luxury homes. Contact Regent Property Group today at 512-554-9714.