Central Austin Neighborhood Tapped As Hot Residental Market

Central Austin Neighborhood Tapped As Hot Residental Market

Central Austin neighborhood tapped as hot residental market

Written by: Will Anderson


The Hyde Park neighborhood in Central Austin, known for its quaint bungalows, is projected to be one of the most sought-after residential real estate markets nationwide this year.

Seattle-based real estate brokerage and research firm Redfin Corp. ranked Hyde Park — north of the University of Texas and roughly bounded by W. 51st Street to the north, W. 38th Street to the south, Duval Street to the east and Guadalupe Street to the west — as the fourth-hottest real estate market in the country based on sales data, Web traffic and agent observations.

The interior of a Hyde Park home featured on a design tour. The Austin neighborhood was rated one of the hottest real estate markets in the country for 2016.

The interior of a Hyde Park home featured on a design tour. The Austin neighborhood was… more


The median home sale price in Hyde Park is $449,000 and the median time spent on market for a home in the neighborhood is 29 days, Redfin noted.

“Hyde Park is a quiet, tree-lined neighborhood with a mix of modern and classic Craftsman homes that suit many types of buyers," Redfin agent Andrew Vallejo said. "It has always been a popular neighborhood, but it has become even more competitive over the last few years due to the revitalization of the surrounding area. Austin’s community college system recently purchased a nearby vacant mall and has developed a portion of the complex into a new campus, and will develop the remaining portion into private mixed-use space.

"As a result, new eateries, retail shops, bars and public spaces are cropping up in the area. Hyde Park residents are a short distance from the action, and still have the benefit of their subdued neighborhood to come home to.”

Several other Austin-area neighborhoods highlighted in the report are all in the north-central part of town, still relatively close to the central urban core.

Other Austin areas expected to have big years, according to Redfin:

  • North Loop — in North Austin bounded by Koenig Lane to the north, E. 51st Street to the south, Interstate 35 to the east and N. Lamar Blvd. to the west — where the median sale price is $349,500 and the median time for homes on the market is 32 days;

  • Wooten — centered on Ohlen Road in North Austin and bounded by U.S. Highway 183 to the north and east, W. Anderson Lane to the south and Burnet Rd. to the west — where the median sale price is $308,800 and the median time for homes on the market is 17 days.

Homebuyers citywide face a constricted market, especially first-time homebuyers: Home starts are down and the number of properties available for less than $350,000 are getting scarce.

In 2014, Redfin named the North Austin neighborhood of Barrington Oaks to be one of the hottest real estate markets in the country.


See Originial article at: http://www.bizjournals.com/austin/blog/real-estate/2016/01/central-austin-neighborhood-tapped-as-hot.html?iana=ind_rre




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Phone: 541-419-7703
Dated: February 1st 2016
Views: 156
About Tricia: My name is Tricia Shirk, I am originally from Oregon and now an Austinite since 2014. I love explor...

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