If you didn’t know, TRE is located in the hottest real estate market in the world! Today, we’re diving into the Austin, TX real estate market and why it’s the hottest market, why it’s such a great place to invest, and why everybody is talking about Austin, TX.
These are the 5 reasons why I believe Austin, TX is the hottest real estate market to be in.
#1. One of the main drivers for this hot real estate market right now is that all these jobs keep moving here from places like California, New York, the East, and West Coast. They’re coming to Austin, TX because Texas has no state income tax. We’re pro-business and we support those companies moving here and being able to build out their companies the way that they want to. We’ve got Elon Musk, Tesla, The Boring Co., Oracle, Apple, Amazon, LinkedIn, Facebook, the list goes on. All these major companies and major employers are moving here left and right. It seems like new ones are coming every single day.
#2. Prices are going through the roof right now. The main reason= low to no inventory. There are about 150 people moving to the Austin, TX area every single day. Right now, they don’t have much inventory to buy from. Checking the Austin MLS, your options are limited. Over the past couple of months, you’re getting 100 offers on one single property. These are cash offers, they’re closing in 7 days, and sometimes they’re going $100-$200,000 over the asking price. This is really driving prices through the roof and it’s really pushing out a lot of first-time homebuyers with FHA financing. It’s hard to compete with those cash offers that are hundreds of thousands over-asking.
#3. Cost of living. The people that are relocating from the East and the West Coast, who experience high prices of gas or rent, are about 3x the amount that they are here in Austin.
#4. Austin is a beautiful place to be. Austin is located in Central Texas and there’s a lot going on for us. Not only do we have a thriving economy, we have a lot of businesses moving here, but we also have bbq, live music (aka live music capital of the world), and also amazing nightlife. Did I already mention that we have great food? Great food coupled with a great culture. It’s a great place to live and to raise a family. I’ve lived here for the last 26 years aka my whole life. There’s no place like Austin.
#5. Compared to other metropolitan cities, Austin isn’t a concrete jungle. We have tons of trails, rivers, lakes, etc that you can go do to enjoy the outdoors. This really increased the quality of life for residents.
We are Your Austin Real Estate Resource. We’re here to help you every step of the way and anything we can possibly do to help, including referring you to some great restaurants. We can represent you as a real estate agent, refer you to some local lenders, and want to help any way we can!