DFW and Austin continue to break home records – CBS Dallas / Fort Worth
Fort Worth (CBSDFW.COM) – Real estate markets in Dallas / Fort Worth and Austin continue to collapse, setting new records, according to recently released real estate data from REMAX.
In both cases, the market is experiencing a housing shortage like never before, with limited supply and increasing demand leading the trend.
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While DFW sees historical market trends, Austin is the only other city in Texas that feels more oppressive than northern Texas.
Getting Started – The DFW average home market price has exceeded $ 350,000 for the first time. In Austin, the average is over $ 450,000.
Mary Ann McMahon owns a REMAX broker in Austin and says DFW is just beginning to see this enthusiastic trend, but Austin has been looking into it for a while. “The Keep Austin Weird tagline is a really good tagline right now,” she said. “Austin is stranger than I’ve ever seen in terms of real estate and the growth of the real estate market. There is little in stock and in great demand. “
Let us now return to the comparison of grades.
According to McMahon, DFW’s current housing supply is about a month of listings, about half that of Austin.
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Commenting on the quick home sales, Mike Gonzalez, Chief Growth Officer of REMAX Posh in Austin, said: Starting Saturday, you will be having deals [and] Until Sunday joke whether the property is still there and active. The agent probably did something wrong. “
Offers well beyond the list are also becoming commonplace in the DFW and Austin markets.
Here at DFW, we often hear around $ 50, $ 60, and even $ 100,000 on the list.
McMahon says the best I’ve heard in Austin is way bigger. “I just read about an offer that was $ 800,000 above list price,” she said.
Unlike DFW, Austin real estate experts say there isn’t much space for new builds.
Gonzales says there are geographic restrictions. “We had some challenges building a new building, but it was just the layout,” he explained. “If you look at the layout of Austin, there are so many areas in which we can grow.”
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Experts in both markets say home sales remain hot, largely as the excitement is fueled by investors and out-of-state buyers. Gonzales says these people are real buyers with real money.
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