The demand for housing from the sudden influx of residents drove up home prices. In May 2019, the median list price for a home in Austin was $371,056, according to Realtor.com. By May 2022, it had ballooned to $629,542, a 70% increase.
"In the beginning of the pandemic, people moving into Austin were paying so much above the asking price that home values rose really fast," Redfin Senior Economist Sheharyar Bokhari told Insider in August.
Prices have yet to return to those pre-pandemic numbers, but Realtor.com reports the housing market in Austin is starting to cool down: It found the median listing home price in August 2023 fell to $568,237. That's a 2% decrease year-over-year, which may not sound like much, but is enough to rank Austin as the No. 4 city where home prices fell the most in the country.
These six Austin-area homes for sale are listed between $325,000 and $400,000. Each vary in size, style, and location, but give a good idea of what you can afford below the national median home price of $416,100. The information about each listing's time on market is sourced from Zillow.
13604 Caldwell Drive #16, $399,995
13604 Caldwell Drive #16, a 1,249-square-foot home in Austin, Texas.Shutterbug Studios for Kuper Sotheby's International Realty
You're currently following this author!
Want to unfollow? Unsubscribe via the link in your email.
Jordan reports on moving trends — from remote work to house hacking. He also writes about movers struggling with issues related to relocation, such as buyer's remorse and the many intricacies of moving to an unfamiliar state.He also has stories focusing on property technology and, in 2022, moderated a panel on fractional investing at the real estate technology conference Blueprint. Before Insider, he covered luxury real estate in South Florida for The Real Deal. He holds a Master's degree in Magazine Writing from New York University and a Bachelor's degree in English from Florida State University.
