AUSTIN, Texas — Austin's red-hot housing market has been all over the headlines recently, and one new report's staggering statistics show just how difficult it is to buy a home in the capital of Texas.
A Redfin report released June 4 gives some insight into how many homes in Austin have sold above the asking price so far in 2021. From January to June, 1,500 Austin homes have sold for more than $100,000 above the asking price. At this time last year, 22 Austin homes had sold in that range.
While $100,000 above the asking price is shocking, some homes in Austin – 72 to be exact – sold for $300,000 above the asking price.
In 2020, 350 Austin homes sold for between $25,000 to $100,000 above the asking price, but in 2021 so far, that number rose to 1,440 homes.
In April, the typical home sold for $35,000 above the asking price.
These numbers likely aren't surprising to you.
In March, KVUE reported that Austin-area homes are selling for the most above asking price compared to the rest of the U.S. A report in April found the Austin-Round Rock area is the No. 2 emerging housing market in the U.S.
An earlier Redfin report found that local buyers have an average budget of $644,771, but out-of-towners are coming with more money to spend – an average budget of $852,276 to buy a home.
Austin's current housing market is so intense that one Austin realtor started a series of TikTok videos to shed light on the hectic state of affairs.
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