Hey there, Austin fam! 🤠 Are you dreaming of snagging a piece of our city’s vibrant real estate but wondering what a cool million bucks can score you in this eclectic market? Buckle up, because we’re about to dive into the heart of Austin’s neighborhoods to uncover the treasures that await in the $1 million price range! And trust me, it’s as varied and exciting as a Saturday night on South Congress. 🏡✨
What Does $1 Million Buy in Austin? – Summer 2024 Edition
With the summer of 2024 heating up, Tribeza has given us a glimpse into what the magic number of $1 million can fetch in the Austin real estate market. From sleek downtown condos to charming homes in the leafy suburbs, the diversity of options is as rich as our city’s live music scene.
A Snapshot of the Market
As of May 2024, the median home price in our beloved ATX hit $587,000, showing a cozy 3.9% increase from last year. Homes are getting snapped up in about 42 days on average, so you better lace up those house-hunting boots tight! With a median sale price per square foot at $331, space in Austin is more valuable than ever. But fear not, because with over 6,400 homes on the market as of May, there’s plenty of room for everyone in this town we call home.
Neighborhoods and Their Charms
The real estate menu ranges from $749,000 to a smidge under a million, offering a taste of Austin’s neighborhood diversity. Whether you’re craving the hustle and bustle of downtown life or the serene vibe of the suburbs, there’s a slice of real estate pie waiting for you.
Why This Matters
For all you real estate pros out there, keeping a pulse on the market’s heartbeat is key to navigating these waters. Tribeza’s snapshot not only paints a picture of what’s out there but also arms agents, brokers, and investors with the insights needed to guide their clients to their dream doorstep.
Diving Deeper into Austin’s Real Estate Market
Key Stats to Keep an Eye On
- Competition: With a Redfin Compete Score of 48, the market’s simmering with opportunity, but it’s not quite boiling over. It’s that sweet spot for making your move.
- Market Trends: The Austin Board of REALTORS (ABoR) and other local realty groups keep their fingers on the pulse, offering monthly reports that are pure gold for anyone looking to buy or sell.
Exploring the Neighborhoods
Austin’s neighborhoods are like a box of chocolates—each one has its own flavor, and frankly, they’re all delicious. From the artsy vibes of East Austin to the upscale allure of Tarrytown, each area offers a unique living experience that catifies (yup, that’s a word now) the essence of Austin.
Resources for the Road
And for the visual folks, don’t forget to check out their Insta feeds for a daily dose of home inspo: @austinhomes, @redfin, @smartaustinrealty, @rockethomes, and @tribeza.
Why Austin’s Still the Place to Be
Listen, I don’t need to tell you that Austin’s special. Whether it’s our unbeatable tacos, the endless outdoor adventures, or our knack for keeping things weird, there’s no place quite like it. And the real estate market? It’s just another extension of this city’s vibrant heart.
Your Next Steps
Feeling inspired to start your Austin home journey? Whether you’re a first-time buyer or looking to upgrade, we’ve got you covered. Check out our Homebuyer’s Guide for the inside scoop on snagging your dream home.
And remember, the Austin Local Team is here to guide you through every step of the way. From exploring neighborhoods to finding the home that hits just the right note for you, we’re your go-to crew. Ready to start your search? Let’s chat! 📲
Because in Austin, we don’t just find houses; we find homes. Let’s make your dream home a reality, together.
