East Austin Continues to Dominate Austin Price Growth

It’s well known that the average sales price in the greater Austin area increased over the last 4-years. However, it can be difficult to know exactly how much and where the average price is accelerating the most. Between 2012 and 2016, it appears East Austin is the clear winner!

The reasons for the continued appreciation in these eastern neighborhoods can be attributed to two main drivers:  LOCATION and NEW DEVELOPMENT.

Average Median Price % of Change 2012-2016 in “Market Comparison” by Austin Title

East Austin is just a few blocks from downtown and this provides a quality of life you rarely find in Austin. You can easily walk or bike just a few blocks and enjoy all of the popular and trendy restaurants, walk to a UT football game or go to any of the music festivals without being completely inconvenienced. Moreover, as the traffic continues to worsen north and south of the city, you can avoid all of that by living here.

With the new Oracle campus just two miles east and new projects in the development stage, the price and desirability will continue to grow. Drive north up I-35 and you will immediately see new projects such as the new Fairmont hotel, the Hotel Van Zandt and 70 Rainey Street pushed almost right up against I-35. That means, development must push further east and that will continue to push prices higher.

I’ve ranked the eastern areas, by the largest price growth:

Area 11 21%
Area 3E 21%
Area 9 19%
Area 5 17%
Area 3 15%