Is Austin Creating Another Housing Bubble? (Houston, Dallas: cheap house, neighborhood, salary)

[llkltk]

As long as people keep moving here as is predicted, there is no housing bubble! People who wait will be paying more.

[aaauger]

Originally Posted by Chip_Vanilla

Seriously, the current MLS listings in the city show a median price of >$400K.

Median price? Half the houses in Austin cost more than $400k? Do you have a source? That seems high. How was the figure calculated - i.e. what region, what types of dwellings, etc.?

[ppp38]

Originally Posted by aaauger

Median price? Half the houses in Austin cost more than $400k? Do you have a source? That seems high. How was the figure calculated - i.e. what region, what types of dwellings, etc.?

A quick search reveals that their are currently 741 houses in this city listed for sale. Of those 741 houses for sale, 341 are listed for 400K and under.

Currently only 90 homes are listed inside city limits for under 200k. Its winter time so stock is lower than it usually is and list price is a lot different than sold price.

[CptnRn]

[TexasHorseLady]

Originally Posted by ppp38

A quick search reveals that their are currently 741 houses in this city listed for sale. Of those 741 houses for sale, 341 are listed for 400K and under.

Currently only 90 homes are listed inside city limits for under 200k. Its winter time so stock is lower than it usually is and list price is a lot different than sold price.

My quick search of the actual MLS shows that there are, in the City of Austin, 1193 houses listed for sale as of today; 490 of those are $400,000 or under. 120 homes in Austin are $200,000 or under.

Where are you getting your information?

[Chip_Vanilla]

Originally Posted by aaauger

Median price? Half the houses in Austin cost more than $400k? Do you have a source? That seems high. How was the figure calculated - i.e. what region, what types of dwellings, etc.?

Movoto, as of right now, quotes the median price of Austin properties listed on their service as $427,327. Albeit this varies slightly day to day.

[355spider]

My wife and I are from Houston then we moved to Dallas and paid 30% more for a house(not worth it) then we moved to Austin and paid another 30% more for a house(so worth it). It's amazing how much more expensive houses are here than the rest of Texas.

[scm53]

Originally Posted by Chip_Vanilla

Movoto, as of right now, quotes the median price of Austin properties listed on their service as $427,327. Albeit this varies slightly day to day.

From looking at their listings, it is EXTREMELY skewed towards the high end. Huge areas of moderately priced Austin metro missing - heavy focus on lakefront mansions. So inaccurate, as to be totally unreliable, and a ridiculous basis to be making any assumptions about a "bubble".

Which you would realize if you lived here, and weren't, once again, trolling.

[TexasHorseLady]

Originally Posted by Chip_Vanilla

Movoto, as of right now, quotes the median price of Austin properties listed on their service as $427,327. Albeit this varies slightly day to day.

Okay, the MLS (which would be the most accurate), using Austin alone, not the entire MLS, shows the median list price for the period from January 2012 to December 2013 to be from a low of around $275,000 to a high of around $325,000. That's all properties in Austin proper (not the outskirts) on the MLS. For just the past three months, it shows it trending up from about $305,000 to about $349,000. Not sure how Moveto is getting its info, but I'm going to trust the MLS more.

[Chip_Vanilla]

If a RE website should exclude some areas of Austin to make the median price appear lower, then that would be "skewed" rather than accurate. MV sets its total current listings at 1525.

Their market statistics page can be accessed from the main site and gives a clear picture of trends; charting shows the Austin median two years ago at 275K as you noted but today it rests @425K. Texas as a whole maintains a nearly flat line for medians over that same period at about 200K today.