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AUSTIN INVESTMENT GUIDE
Record Year for Area Home SalesDecember's gain shows Central Texas' housing market is continuing to buck U.S. trend.By M.B. Taboada AMERICAN-STATESMAN STAFF Tuesday, January 23, 2007 Central Texas had a record year for real estate sales in 2006 but had the second-smallest year-over-year increase in December. Sales of existing homes rose 3 percent in December, totaling 1,996, the smallest increase since September. Still, the increase indicates that the Central Texas region has continued to buck national trends of a cooling housing market. "We saw a pretty strong December," said Roselind Hejl, a real estate agent with Coldwell Banker United, Realtors. "It's no surprise that it was an increase over last year." The median price for a single-family home rose 4 percent to $177,500 in December. Homes stayed on the market slightly longer in December, 70 days on average, but it's still a seller's market. The greatest number of sales in December were for homes priced from $200,000 to $400,000. Charles Porter, chairman of the Austin Board of Realtors, said he is optimistic that home sales will remain strong, thanks largely to stable job growth. Pending sales were up 16 percent to 1,852, which indicates that 2007 likely will be another strong year for home sales. The housing market in the Austin area ended the year with record sales of 26,958, a 10 percent increase from 2005. The year's median home price increased 6 percent to $174,500. Single-family homes were on the market for an average of 63 days for the year, the shortest length in four years, according to the Austin Board of Realtors. The number of active listings shrank 4 percent to 7,830, the smallest number since 2001. Hejl said the scarcity of inventory in Central Austin and close-in suburban areas, such as the Great Hills area, Lakeway and Steiner Ranch, may continue to drive up prices. "During this past year, I have been shocked at times by how much prices have come up," she said. "The scarcity of inventory will be a driving factor of price increase in the next year." Certain areas were especially hot last year, including some that border Hays and Williamson counties. Last year, sales of single-family homes pumped $6.36 billion into the local economy, a 20 percent increase from the previous year, according to the Austin Board of Realtors. AUSTIN LANDLORDS INCREASE RENTS, OCCUPANCY ON UPSWINGAUSTIN (Statesman.com) - According to a survey by M/PF, the days of concessions in the rental market are numbered in Austin as occupancy increased to the highest level in three years and multifamily construction decreased. Click here to use my Investment Analysis Workbook as a guide to help decide which property is right for you!Average Sales Prices
Austin Area Rental OverviewNorthwest - area where most of the new apartments in Austin are being built. Start of the Texas Hill Country. A portion of this area is served by the University of Texas free Shuttle bus system. There are some communities in this area giving one month free rent and move-in specials.
Newer Executive Apartments Average Apartments North - close to Highland Mall area, central to Mopac (Loop 1) and IH-35. Newer Executive Apartments Average Apartments Northeast - close in convenience to Downtown, Tracor, Motorola, and Applied Materials. This area is served by the University of Texas free Shuttle bus system. Average Apartments Central/University - old Austin charm, areas such as Clarksville, Terrytown, Enfield, and Hyde Park. Also, home of the University of Texas with student housing in West and North Campus. This area is served by the University of Texas free Shuttle bus system. 
Studios from $495 Condos South - Town Lake Hike & Bike Trails, UT Shuttle Routes, Sematech, and AMD. This area is served by the University of Texas free Shuttle bus system. There are a limited number of newer apartment communities in this area designed exclusively for the student lifestyle. These feature 1, 2, 3 and 4 bedroom apartments. Newer Executive Apartments Average Apartments Southwest - area with Austin's greatest landmark "Zilker Park", spectacular views of the Hill Country & Downtown. Also home to Motorola, and Eanes ISD. Newer Executive Apartments Average Apartments Round Rock, Georgetown - some of the highest rated schools in the Austin area, home to Dell computers. 
Newer Executive Apartments Average Apartments
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