Prices of Homes Rise as Austin Continues to Grow
As Austin builds on last year’s economic and population growth, we are seeing home values continue to rise. Many homes, particularly in the central Austin area (south of 183, north of 71), are seeing tremendous appreciation. Price points along those boundaries are beginning to increase, moving these artificial lines that were drawn, farther out. Our once little college town is beginning to resemble the infancy of a sprawling metropolis. Growing up in Houston, I’m beginning to take note of the similarities. The “short” drive from one destination to the next is becoming longer and longer. More and more commercial and retail stores are cropping up to alleviate the need to go that extra distance. And in the real estate world, builders are beginning to run out of land to develop. Builders are beginning to explore the available land that separate these towns, and in these towns. Given a consistent growth for the coming years it would not be out of the question to see these cities begin to fill in, and the boundaries begin to blur. What we once thought of a long journey to Dripping Springs or Round Rock, will begin to feel like an average daily commute. These smaller satellite towns will soon become absorbed into the metropolis, like a black hole consuming stars and galaxies. Just like a black hole, there’s nothing you can do about it. It’s a natural byproduct of a prosperous economy. You have been warned, so hold on for the ride!