The median sale price in the city of Austin was up 24% as of February to $491,000, according to the Austin Board of Realtors. The market saw fewer new listings and active listings, with just 0.6 months’ inventory up for sale.
Meanwhile, total sales dollar volume in the city was up 17% to $494 million, according to the Realtors group.
That continued rise comes after real estate website Zillow predicted that Austin would be one of the hottest housing markets this year, FOX Business previously reported.
Austin is home to facilities for tech businesses like Dell, Apple and IBM. And more companies are headed to the area – SpaceX is reportedly planning a new manufacturing facility in Austin and Samsung has also filed paperwork indicating it has plans for a major new chip fabrication plant there.
Of course, the Texas state capital has more to offer homebuyers than just a hot market and growing tech industry. The city is known for its arts and food scenes, and for hosting the annual South by Southwest festival.
With so much going on in Austin, here’s a look at what you can get with a $1.5 million budget there