The cost of Austin homes is rarely a neutral subject, especially among current residents. While your average citizen will lament/rage against the price of buying a home anywhere near the central city, real estate agents and other industry types tend to fret over the lack of “inventory” (that would be properties for sale). Those actively involved in the luxury home market on either side rarely seem flustered by either.
To get a monthly reality check on the situation, we turn to national real-estate analytics site NeighborhoodX to find out how the price of Austin housing shakes out by both neighborhood and square footage.
NeighborhoodX just released its April local market report, which looks at average asking price and price range per square foot in 23 Austin neighborhoods, as well as for the Austin area as a whole. (Its figures exclude foreclosures and short sales as well as properties neeing significant rehabilitation or positioned as redevelopment sites.)
For this analysis—which does not include all of the neighborhoods of Austin—the asking prices for or the homes on the market in April ranges from $74 per square foot (for the most affordable property on a per-square-foot basis in Manchaca) to $1,466 per square foot (the most expensive property Downtown, measure on the same basis).
Director of research Constantine Valhouli notes, as always, that the property with the most expensive property asking price basis isn’t always the most expensive on a per-square foot basis, and vice versa.
He also noted that there is a growing number of neighborhoods where the average asking price is more that $450 per square foot, including Downtown ($619), Bouldin Creek ($511), Zilker ($495), East Cesar Chavez ($472), Old West Austin ($469), and West Lake Hills ($469).