Though the real estate market across the country continues to be shaky, the Austin real estate market is holding its own. With the foreclosure debacle looming over the real estate market, both buyers and investors across the nation remain wary. Austin, too, has seen a dip in sales from this time last year, but a nearly 7 percent rise in home prices. Austin continues to add jobs and expand its population, as well as its national prominence.
Austin is a not-so-well-kept secret when it comes to smart real estate investing. There are many surprising things about Austin, like the population of this big little town is 757,688. This makes Austin larger than the population of Boston (near 590,000). Surprising, isn’t it? The unemployment rate in Austin is around 7 percent, which is significantly lower than the nation’s over 9 percent rate, and Texas’ unemployment rate at over 8 percent.
Downtown Austin is one of the most rapidly expanding, vibrant parts of this city. The area known as Block 21 in the Second Street District will include both the W Hotel and Residences and a new venue for the iconic Austin City Limits studios. The Second Street District itself is quintessentially quirky Austin, with shops, restaurants, bars, and pedestrian friendly spaces along Town Lake.
Austin, Texas realtors know that Austin is great buy, even if it’s not a well kept secret. For that only-in-Austin luxury home experience, find homes online or consult your luxury real estate broker at Posh Properties, the Austin luxury homes expert.