The Austin real estate market is hot, and pretty competitive, according to anannual reportfrom Redfin that pinpoints the Austin areas where buying and selling is as intense as a full-contact sport.
To gauge the competitiveness in each neighborhood, Redfin looked at seven factors ranging from how long a listing stayed on the market to the percentage of listings that sold above the asking price. The data reflects sales of condos, single-family homes, and townhomes in 2015.
In Austin, the three most competitive neighborhoods were South Lamar, Southeast Austin, and Northwest Austin.
South Lamar was the most competitive in the city. Thirty-one percent of the listings sold above the asking price, pushing the median sale price up to $292,500. Redfin reports that 52 percent of Redfin offers in this area experienced bidding wars, and 31 percent of home offers in South Lamar were all cash.
Homes in Northwest Austin sold at the highest median price: $360,000 a pop. About 29 percent of these abodes sold above asking price, and 59 percent of the offers through Redfin were competing with other bidders. In Southeast Austin, 30 percent of homes sold above the asking price. The median home price was only $197,000, and 10 percent of Redfin offers experienced bidding wars.
In all three neighborhoods, homes sold at a lightning-fast rate of two weeks or less on average.
The 30 most competitive neighborhoods of 2015 were found in four cities: Boston, Portland, San Francisco, and Seattle.
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"ITALIANO Siamo molto felici di aver incontrato per caso la signora Michelle Burns, vostro agente, con la quale dopo aver avuto un appuntamento nei vostri uffici, abbiamo trovato la casa perfet ta, la vostra agente Burns, è stata molto brava anche nel capire quello che stavamo cercando e molto paziente nel tradurre tutte le nostre richieste in quanto noi non parliamo americano, e grazie alla sua disponibilità e alle tecnologie moderne abbiamo comunicato a lei e lei con noi per tutto quanto ci era necessario, complimenti ai vostri uffici sempre tutto il personale compiaciuto, e pronto, complimenti al vostro Agente Michelle Burns, per la sua Professionalità, sempre ben vestita, sempre educata, pronta ad ascoltare senza mai voltarsi, Grazie Mille. INGLESE (GOOGLE TRANSLATOR) We are very happy to have met by chance Ms. Michelle Burns, your agent, with whom having had an appointment in your offices, we have found the perfect home, your agent Burns, was also very good in understanding what we were looking and very patient in translating all our demands because we do not speak American, and due to its availability and to modern technology we talked to her and she with us for all that we had to be, congratulations to your offices all staff always pleased, and ready, congratulations to your Agent Michelle Burns, for his professionalism, always well dressed, always polite, ready to listen without looking, Thanks a lot. "