In just 2021 alone and only five months into the year, there have been over 50 companies that are expanding or moving to Austin. Thirty-four Austin businesses are expanding, and almost 40 of them are new to Austin. Just in April last month, 21 companies were expanding and relocating! Here are the Austin jobs this year from company relocations and expansions, and how it’s impacting the real estate market.
Here are the companies that are bringing in the most jobs:
- Arrive Logistics – 600 jobs
- Markaaz – 500 jobs
- Amazon San Marcos Fulfillment Center – 2,000
- Tesla – 5,000 jobs
View the whole list here.
Austin Real Estate Market
As you’ve probably heard by now, the real estate market is intense right now. But it is especially true in Austin. The Austin Board of REALTORS®’ latest report for March 2021 shows the median home price in the city and the greater metro area jumped over 20% year over year. This is a new all-time high for both regions.
The median sale price in the city of Austin increased 24.8% to $515,000. This is the first time that the median home price surpassed the $500,000 mark. In February 2021, it was $491,000, which was also a record high at the time. In the five-county Austin-Round Rock metro area, the median price increased 28.8% to $425,000. It was $395,000 in February 2021.
More homes are selling than ever before, and the difficulty is finding one as home prices increase and inventory decreases. In March, inventory drastically decreased at city and metro levels to .4 months. This is the lowest inventory level for the metro area. Homes that are selling are selling for above asking or 108% of their list price on average.
The Wall Street Journal’s Emerging Housing Markets Index named Austin number two. The report looks at the return on investment and the livability of the country’s 300 most populous metro areas. It also looks at the metro’s real estate market like real estate supply and demand and median list price and economic health like unemployment rate and daily commute times. The ratings help identify locations that are good places to invest and where you’ll enjoy living. Austin is an excellent place to live because of the booming economy and ever-expanding job growth, but it will also be a good investment.
If you’re ready to invest or buy a home in Austin, contact Prism Realty. We’re here to offer our expertise and help you achieve your real estate goals.