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What it costs to buy a home in North Loop right now

A range of prices in a dynamic neighborhood

Two-story new-build modern-farmhouse-ish house, gray
5200 Eilers Avenue
Redfin

In an ongoing series for Curbed Austin, real-estate analytics site NeighborhoodX is taking a close look at sales prices ranges in different neighborhoods.

Today's analysis is of the North Loop neighborhood. Bordered by North Lamar Boulevard on the west, Airport Boulevard on the East, West Koenig Lane on the north, and 51st Street (west and east) on the south, the area has an interesting history.

For years, it was in the landing flight path of the city's airport, then in the middle of town (it's now the Mueller development) and home primarily to people seeking low rent necessary to compensate for the noise.

It was also a creative center then and now, with quirky retail shops and coffee places. Home prices, however, jumped after the airport was relocated. It now seems to be experiencing another surge in popularity, with established local restaurants and other businesses opening up in the area. The redevelopment of the former Highland Mall nearby into a community college campus will no doubt make it even more popular.

Faux Craftsman two story beige house
5403 Evans Avenue
Redfin

The current average listing price in North Loop is $309 per square foot, although it ranges from $198/square foot (a multifamily property at 5403 Evans Avenue) to $558/square foot (a pair of bungalows at 400 and 402 West 55th Street)

if we exclude the top properties—while they aren't explicitly positioned as development sites, the price appears to value the land more than the building (especially since, for comparison, 935 East 56th Street is asking $360,000 for an 823-square-foot bungalow, or only $443/square foot)—the neighborhood's current asking price range narrows to $198-443/square foot.

You can check out the full, interactive NeighborhoodX chart at the link below.

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