As Austin (and national) real-estate market rumors, theories, and proclamations about slowdowns, busts, and booms continue to swirl, you might be wondering what actual average range of asking costs in the city is right now. If you’re looking to buy or sell, you might also be curious about how the price of Austin housing shakes out by neighborhood.
Never fear; national real-estate analytics site NeighborhoodX—with whom frequently collaborate on these kinds of reports—has the answers you need, in charts, graphs, and hard numbers, with going average asking prices per square foot in 21 Austin neighborhoods.
For this analysis—which does not include all of the neighborhoods of Austin—the overall price range for the homes on the market in February ranges from $114 per square foot (for the most affordable property on a per-square-foot basis in Manchaca, an unincorporated Travis County community about six miles southwest of Downtown) to $1,640 per square foot (one of the most expensive properties, on a per-square-foot basis, in West Lake Hills).
With this in mind, the analysis focuses on market-rate properties, so it excludes foreclosures and short sales, as well as properties positioned as development sites or with considerable acreage, which could skew the value of the built square footage.
The neighborhood with the highest asking prices has consistently been Downtown, with an average of $646 per square foot, although properties range from $158 to $1,501 per square foot.
After this, a cluster of desirable neighborhoods are priced comparably: Old West Austin ($458), Bouldin Creek ($469 per square foot), Zilker ($472 per square foot), and East César Chavez ($481 per square foot).