As 2021 comes to a close, we want to take a moment to thank you, our wonderful clients, for another great year in Austin Real Estate. No one could have projected the burning hot market we have experienced these last 12 months. The CoVid pandemic coupled with Austin’s intense growth introduce a flurry of inflationary factors including:
- ultra low inventory
- need to work from home (need more space)
- desire for more social distancing (increased interest in lower density areas)
- disappearing commutes (increased interest in suburban areas)
- persistently low interest rates
- supply/demand issues in building materials and labor
- increased competition from investors and i-buyers
- rapid job growth including big names like Tesla, Apple, and Samsung
- relocation growth due to Texas having a relatively low cost of living and Austin’s attraction as an entrepreneurial marketplace
Most sources quote at least a 20% year over year appreciation rate in residential real estate area-wide, with many sub-areas seeing much higher numbers (All real estate is local!). The general consensus is that 2022 will remain ultra competitive and will see continued appreciation, although maybe not as steep of a curve.
The 2021 real estate market was hyper-competitive and a bit of a stressful market to navigate. We are grateful for each and every one of our clients who allowed us to be your guide. Thank you!
We wish you and your families a relaxing and enjoyable Holiday season! If you are thinking of making a move in 2022 and/or if you know someone who is looking to do so in the Austin area, please contact us sooner than later so we can get you in the game early. Happy Thanksgiving!
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