Another year of strong economic and housing growth for Austin is in the books. The numbers below show prices are still going up and the average days on market signal the fast paced market many buyers are experiencing. If you are not on the ball and through the door in the first weekend (couple of days), there is a good chance you'll miss out on the next home.
Residents in the Brentwood / Crestview area are seeing more rapid development from a few specific builders that have the ADU (accessory dwelling unit) process down. This is where they build a larger front home (generally 1700-1800 sq ft), then a dettached unit in the back (not to exceed 850 sq ft). A basic condo association is established and the the two homes are sold separately. It certainly increases density, with City Council seems to be a fan of, and offers buyers new construction options at a much lower price point.
Expect to see these detached condos continue to pop up in 2016. I'm also seeing many new construction starts from home owners who have lived in the neigbhorhood for several years and instead of adding on, they are opting to just start from scratch. Sometimes the homes are relocated and moved (pier and beams homes will be placed on I Beams and hauled away), other times they are being demolished.
With such a diversity in home values, it's important your agent understands the local market dynamics. I'm a local resident for over 10+ years who is actively helping people buy and sell real estate in the Brentwood neighborhood. Call me to discuss your home and how to maximize it's value.
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