Question for realtors who know historical data for Austin. (Onion Creek: for sale, real estate)

[pop251808]

If I bought a house in Austin proper in 1983 for 160K, what would it be worth now? I'm supposing an "average 160K house" back then that is now for sale in today's market, no special considerations, just looking for what factor to apply for the increase in price of a house in that price range. Thanks in advance.

[TexasHorseLady]

Well, it would depend on what part of "Austin proper" you mean and the age of the house and a lot of other things.

We bought a house in Barton Hills in 1988 (close enough?) for about $75,000 and it's currently valued at about $475,000-500,000 and going up. Not for sale, though - we'll never get that location (street dead-ends into the green belt, we're right where the street drops off so we have a great view of Barton Square Mall, crawling distance from the Broken Spoke) again.

[atxcio]

Interesting question, and I'm not a realtor, nor am I going to try to look up historical data.

But I do suspect it would have a lot to do with what neighborhood you bought in. In 1983 Austin, $160K would be a pretty nice sum to pay on a place. Not sure what the 2016 dollars that would equate to, but you'd have to figure not only inflation but higher interest rates (making mortgage payments higher for folks to afford to borrow that much).

So if you DID have that much to spend on a house in 83, you could probably have bought *something* in almost any neighborhood. So you might have purchased a new home in say, Onion Creek, and that would be maybe 400K now. Or you could have bought something in Northwest Hills and it might be worth 600k now. Or maybe Rosedale or a shack in Tarrytown, and you could have something worth north of 800k.

Which is just a long way of saying... Location, location, location. I guess.

Maybe an additional question might be, where could you have bought in 1983 and seen the LEAST appreciation? Maybe Quail Creek or something in that area?

[pop251808]

Originally Posted by TexasHorseLady

Well, it would depend on what part of "Austin proper" you mean and the age of the house and a lot of other things.

We bought a house in Barton Hills in 1988 (close enough?) for about $75,000 and it's currently valued at about $475,000-500,000 and going up. Not for sale, though - we'll never get that location (street dead-ends into the green belt, we're right where the street drops off so we have a great view of Barton Square Mall, crawling distance from the Broken Spoke) again.

So, is it fair to say that a house in that price range has gone up since 1988 by a factor of 6.66? That is the sort of answer I'm seeking. My question isn't about a house, per se, but rather: houses that cost 160 in '83 have gone up by a factor of what number (X), if you see what I mean?

[gpurcell]

Just spitballing for North University, $160 would have gotten you one of the nicest houses in Aldridge Place back in 1983. Figure something north of a million now, so 5 or 6 to 1.

[Austin97]

if you are looking at someone's total return then you need to factor in the cost of property taxes during that time.

[TexasHorseLady]

So, what is your goal for the information? That might help us help you better. Pretty sure MLS information doesn't go back that far and Texas is a non-disclosure state and respected that a lot more back then, so the tax records wouldn't have it for many houses, so it would take a fair amount of digging and math to get the info for you. Best to know what your planning to use the info for so you get what you need.

[TexasHorseLady]

You also need to remember that there was a real estate crash in the 1980's.

[Glenn Ross]

Too many variables to give you a concrete answer. Neighborhood, upgrades if any, sales of similar homes nearby, etc. Without soliciting, I recommend you contact a Realtor. He or she will do a market analysis for your home. And BTW, ignore any valuation online, especially if it rhymes with "estimate." Very inaccurate here in TX.

[CptnRn]

I purchased a 1300SF house new in 1981 for $51,000 in zip code 78749, sold it 10/1/2014 for $239,000. No significant upgrades except the HVAC system and added insulation, and all finishes were renovated, roof replaced.

Location makes a huge difference.