After a white-hot seller’s real estate market this summer, things are slowly cooling down to more of a ‘normal’ seller’s market in Austin. While home sales in the greater Austin area have, for the time being, somewhat stagnated, sales in the suburbs have soared. Take a look at some of the fastest-growing ‘burbs in Austin!
1. Round Rock
Round Rock is no stranger to national ‘best places to live’ lists. Year to date, pricing in Round Rock (78664 and 78665) has increased 44%, with a current average price of ~$450,000. Contributing factors include highly rated schools, easy I-35 access, and major employers like Dell, Kalahari, Round Rock Outlets, Baylor Scott & White, and Round Rock ISD.
2020 was a great year for Hutto. What used to be widely considered as a ‘far east’ suburb is now a booming Austin ‘burb thanks to Highway 130 growth, new subdivisions, and new business developments. Year to date, Hutto home prices increased 42%. The average home price in Hutto today is ~$397,000.
Five years ago, Pflugerville was an investor gold mine with the average single-family home costing $262,000. Since then, new residential neighborhoods and modern commercial shopping and dining centers like Stone Hill and Falcon Point have contributed to Pflugerville’s rapid growth. Year to date, Pflugerville has increased 39% with an average price today of ~$425,000.
Bonus: Keep an Eye on Kyle
While the north burbs are currently getting plenty of attention from homebuyers and investors alike, don’t sleep on the south suburb of Kyle, TX. Year to date, Kyle has shown a ~31% pricing increase, and that is not expected to slow anytime soon.
Current and upcoming major developments include Plum Creek (read more here and here) and employers like Seton Hospital, Amazon Distribution Center, HEB, and Lowes. With its proximity to both Austin and San Antonio, Kyle is well-poised to become a logistics hub for both cities which has a direct effect on property values as growth continues.
If you’re in the market to invest, buy a home, or sell a home in Austin, let’s talk! I’d love to be your resource for all things real estate, so please reach out any time!
October 22, 2021