Population growth statistics show that the Austin area is one of the most popular places in the U.S. to relocate. Plentiful jobs, abundant lifestyle options and a favorable tax environment make for an attractive location for newcomers. Austin’s growing population has fueled the development of new neighborhoods and shaped communities in and around the city. Recently, an analysis of Austin area communities ranked which are the best neighborhoods in Austin to own a home.
Initially, Zillow analyzed the 35 largest metros across the country to determine the best real estate markets in terms of being the most buyer-friendly and the most seller-friendly. According to a release about the ranking, analysts created the ranking to show how strong a region’s housing market is compared to others by using a few, key market statistics. The statistics included sale-to-list-price ratios, the percentage of listings with a price cut, and how long homes stay on the market.
In the overall ranking, the Austin metro area ranked as the 18th most buyer-friendly market in the U.S., with a median home value of $308,200 and homes staying on the market for an average of 74 days. Being right in the middle of the ranking means that buyers in 17 other markets have a better home shopping experience than they would in Austin. Likewise, sellers have it better in another 17 markets.The report didn’t stop there. Analysts honed in on the Austin metro to determine which is the most buyer-friendly and which is the most seller-friendly.
According to the report, Lago Vista is the most buyer-friendly location in the greater Austin area. With a median home value of $267,300, listings in the lakeside community rank below the metro median home price. Of the homes sold in Lago Vista, only 18.9 percent saw a price cut.
For the most seller-friendly location in the Austin area, Kyle came out on top. Nestled in the Austin/San Antonio corridor, the median home value is $216,100 in Kyle. Homes spend only 63 days on the market on average and the sale-to-list-price ratio is 97 percent. According to Zillow, the suburbs of San Marcos, Bastrop, and Hutto all landed in the middle of the buyer-seller index, meaning they are not as buyer- or seller-friendly as other cities in the metro.
To learn more about Austin area neighborhoods, reach out to an Austin real estate strategist at David Brodsky Properties. You can also request a free Austin relocation guide or set up a custom home search on our online home search tool.