Wow, if January is any indication of where 2017 is headed, we’ve definitely shaken off the funk our Austin real estate market experienced for most of the last half of 2016. Consider this: With the exception of our “aberration” November month in 2016, this is our highest increase in sales month since June/2016 (which--at 6%--was our highest of 2016)...also, remember that 2016 was flat with 0% change from 2015; our Median prices price jumped by 10% (our highest since Oct/2016, also at 10%, and our only other double-digit month in 2016); and our Average home price also went up 10% (our highest since June/2016 which was also the only double-digit month in 2015). From everything I’m personally seeing and hearing “on the streets”, 2017 is starting off strong for home sales in our Austin metro area.
To see how we have done since the financial meltdown in the fall of 2008 and our subsequent national recession, see the chart below. Austin has easily outpaced the nation in our recovery from the recession. Median Austin home buyers in 2008 have see the equity in their homes appreciate by nearly $96,000 since then compared to only $18,000 in the U.S. ($78,000, or 533% more).
And, when you factor in the loan principal payoff during this same time, the $96k balloons to over $146,000 as you can see below!
