Willie Cecil Real Estate

It's about that time of the week where I give you the rundown of what's going on in Austin. Well, this may surprise you!

The average price of a home in Austin was $189,000 recorded in 2011. In 2020, however, this price shot up by 82%, totaling $343,914. Currently, there is no other metro in Texas that reached past an average of $300,000+! Speaking of the STATE of Texas, the median home price shot up 76% from 2011 ($146,988) to 2020 ($259,188.)

Was that a surprise?

How do we feel about adding more high-rises to Austin? Because of our increasing population due to a welcomed burst in the job industry, we need more places to stay. Both to live and work in!

What's up in the air? Well, a 1.64 million SqFt tower is now the talk of the town. You can expect a 750,000 SqFt, 50-story office tower between Brazos Street and San Jacinto Boulevard.

The 2nd phase will take place on the northern end of the same block which will be about 886,200 SqFt. The expected date of construction has not yet been released. Are you ready to welcome these new buildings?

We've all heard that Austin is making a comeback in the job industry, but have you heard about the specifics?

Directly from Austin CultureMap's article on economic recovery, John Egan records the stats below:

1. Change in consumer spending (January 2020-April 2021):

Austin: 27.5 percent
Study-wide average: 7.3 percent

2. Change in small businesses open (January 2020-April 2021):

Austin: -38 percent
Study-wide average: -32.51 percent

3. Change in small business revenue (January 2020-April 2021):

Austin: -40.4 percent
Study-wide average: -30.9 percent

4. March 2021 unemployment rate:

Austin: 4.7 percent
Study-wide average: 6.6 percent

Keep in mind that vaccination isn't the only contributing factor to these shifts. Poverty rates, tax revenue, spending, and politics directly effect exactly how fast Austin will make a full recovery, and even an improvement. We're doing great now, but let's do better!

Meet Austin's restaurant of the year: Nixta

It doesn't always have to be traditional food. In fact, it's time to spice things up! This restaurant is a non-traditional taqueria which recently opened up on E. 12th St.

One of many great things about living in Austin is the diversity in culture. More specifically— food! After all, who doesn't enjoy Mexican food? Well, you're in for a shocker with this one, as these corn tortillas will take you for a spin!

Will you visit? I know I might! 🌮

Let's end this lovely Sunday with a lovely market update! The Austin Board of Realtors records that Austin's current housing market is once again presenting a "record-breaking" shift in the market. It seems that these record breaking stats are here to stay, as experts say this is the "new normal!"

In June of 2021, home sales increased by 8.6%. A total of 4,369 homes were sold, which is a 16.5% increase compared to year over year.

Metro Austin's median home price grew 35.4%, which is now at a staggering $440,000. In downtown Austin, however, the median home price is $575,000. This is a 30.9% increase from last year! Here, about 1,374 homes were sold.

The average time spent on the market is just 13 days!

What can we predict about August? 🤔