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Are Austin Home Prices as out of Control as We Think They Are?

Well, yes and no. There's a pretty big range out there, actually.

Common wisdom has it that Austin home sales prices are rising so high that home-buying is now out of reach for most residents. While that's a fundamental truth for many, it's helpful (or at least interesting) to look beyond median prices and examine their range, particularly in different neighborhoods.

Throughout April, NeighborhoodX has been doing that with different central Austin neighborhoods. Now the company has released a pricing chart that compares their findings among neighborhoods for April 2016.

The resulting range is surprising, in that most neighborhoods share some common ground in their whole range of prices, even when their median prices are very different.

Average single-family-home asking price among the neighborhoods studied in April is lowest in Windsor Park ($210/square foot) and highest in Bouldin Creek ($406/square foot).

But the range of prices tell a different story. In the neighborhoods analyzed, for example, prices range from $111/square foot (the most affordable residence in University Hills) to $1,389/square foot (the most expensive residence in West Lake Hills).

202 Redbud Trail, West Lake Hills (Kuper Sotheby's International Realty

[NeighborhoodX also noted a change from a previous neighborhood range report. For Holly, it originally included several homes that are on large lots that are likely to be redeveloped and therefore selling tor more per square foot than houses on smaller lots. For the consolidated chart, it excluded the former.]

You can see the full, fascinating, interactive chart at the link below.

Homes in the Range: How do Austin purchase price ranges compare? [NeighborhoodX]