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Neighborhood Market Watch: How Much It Costs to Buy in Hyde Park Right Now

In which we learn that small price drops can be deceptive

In this ongoing series, real-estate analytics site NeighborhoodX is taking a close look at sales price ranges in different Austin neighborhoods.

Today's focus is the central Hyde Park neighborhood, which NeighborhoodX also reported on in April, and includes a month-over-month comparison.

In May, the average listing price for Hyde Park was $288 per square foot, but there wasn't much wiggle room at the lower end: It ranged from $254/square foot (4707 Avenue G) all the way up to $477/square foot (3912 Avenue G, a historic home we featured here).

For a month-over-month comparison, in April, the average asking price in the neighborhood was $298/square foot, and the individual properties that made up that average ranged from $230 to $358/square foot.

"The slight drop in price month over month highlights one of the challenges of working with small data sets, and real estate data in particular," explained Constantine Valhouli, the co-founder of NeighborhoodX. "It doesn't imply that Hyde Park somehow became less valuable over the month; instead, it reflects a different mix of units being sold each month."

Homes in the Range: Austin (May 2016) [NeighborhoodX]

Homes in the Range: The Highs and Lows of Hyde Park [Curbed Austin]

Rare Historic Residence in Heart of Hyde Park Asks $2.4M [Curbed Austin]