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NICK

Sotheby’S top pRoduceR

512.426.9183 | S t . N i c k @ S ot h e b y S R e a lt y . c o m |

www.StephaNieNick.com

PROVIDING A LIFESTYLE.

NOT JUST AN ADDRESS.

RepReSeNtiNg the diStiNctive wateRfRoNt, golf couRSe & gated NeighboRhoodS iN the moSt pReStigiouS aReaS of auStiN. 2 7 0 0 b a R to N c R e e k b lv d | S u i t e 2 0 0 | a u S t i N , t X 7 8 7 3 5 This material is based upon information which we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete, and it should not be relied upon as such. Properties on this list have been listes/sold by various participants in the MLS.This offering is subject to errors, omissions and changes including price or withdrawal without notice. © MMIX Sotheby’s International Realty Affiliates LLC. A Realogy Company. All Rights Reserved. Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully.

If your home is currently listed, this is not a solicitation for that listing.

Produced by UpscaleRealEstateMarketing.com • 877.660.0996

economic snapshot | 2016

STEPHANIENICK

AUSTIN


Real Estate Market The Austin real estate market is very competitive and median housing prices are steadily increasing, but it’s also one of the healthiest in America. A new study from the financial website WalletHub ranks the health of housing markets in 25 big U.S. metropolitan areas, and Austin is positioned near the top.

AUSTIN

N

estled in the Texas Hill Country and dubbed by Forbes as the next Silicon Valley (aka “Silicon Hills”), Austin, Texas continues to be a shining economic star in the state of Texas and the U.S.

Technology and Venture Capital With an exploding population of young people and an increasing venture capital presence, Austin has the perfect mix of big business talent and a unique vibe that attracts young professionals and tech talent to the city. Austin boasts a reasonable cost of living and an unbeatable location. It is certain to continue growing as one of the nation’s leading tech hubs, with the city ranking first in the Kaufman Foundation’s Startup Activity Index for 2015. Nationwide the venture capital industry had one of its best years ever in 2015. Austin ended the year with $740 million in VC investments, up 20 percent from 2014 according to the MoneyTree Report from PricewaterhouseCoopers LLP and the National Venture Capital Association.

Austin isn’t just rocking the tech and housing markets — the city is also known as The Live Music Capital of the World.

Source: Federal Housing Finance Agency

WalletHub analyzed metro areas based on 10 key metrics. According to the analysis, Austin has the sixth healthiest housing market. The top 10 metro areas as identified by WalletHub are shown here:

The Shining Economic Star of Texas

“Lack of a personal income tax, relatively cheap real estate and a strong tech community in a carefully planned and revitalized downtown sealed the deal for hundreds of entrepreneurs who are flocking to Austin to set up shop,” according to a 2015 report from Forbes.

ANNUAL HOME PRICE APPRECIATION

FASTEST GROWING AMONG TOP 50 METRO AREAS Source: US Bureau of Labor Statistics, Current Employment Statistics

Non-Farm Payroll Jobs Difference

San Jose San Francisco

1,082,000 1,078,600

AUSTIN

964,200 36,100 3.9

Dallas San Antonio Salt Lake City Orlando Riverside Fort Lauderdale Atlanta

2,436,300 88,900 999,500 35,300 690,100 23,400 1,179,300 39,900 1,367,300 46,100 821,800 27,000 2,646,000 86,400

52,300 42,200

% of Change

5.1 4.1

Rank

1 2

3

3.8 4 3.7 5 3.5 6 3.5 7 3.5 8 3.4 9 3.4 10

“It was a great year for Austin in terms of overall progress,” said Krishna Srinivasan, partner in LiveOak Venture Partners in Austin. Srinivasan doesn’t expect a slowdown going into 2016. The technology industry in Austin is stronger than ever before, he added. The Forbes report shows that Austin is still leading the country in technology-based jobs. According to the most recent numbers, Austin is the No. 1 city for tech job growth — a title that they also claimed in 2014. The past 12 months have been excellent for Austin’s workforce as well. The jobless rate has remained below 4 percent for more than an entire year. In the past 15 years in the Austin area, there is only one other period, at the tail-end of the dot-com boom, during which unemployment stayed as low.

Overall Rank

Metro Area

1 2 3 4 5

Boston, MA Oklahoma City, OK San Antonio, TX Northern New Jersey, NJ Hartford, CT

6

AUSTIN, TX

7 8 9 10

New York City, NY Rochester, NY Philadelphia, PA-NJ Houston, TX

November 2015 did see a dip in Austin area home sales. After increasing for five consecutive months, home sales dipped four percent compared to November 2014, according to the Multiple Listing Service (MLS) report by the Austin Board of REALTORS® (ABoR). This is only the second decrease in home sales volume for 2015 to date, with the first decrease occurring in May 2015.

Millennials are predicted to be among the top buyers, and Realtor.com says Austin-Round Rock will be the fifth most sought out city for 25- to 34-year-olds looking to purchase a home in 2016. The report attributes the expected sales growth, in part, to Austin’s growing population. Compared to 2012, the local labor force and the number of households will have increased by 12 percent by 2016. Don’t expect the Austin real estate investment market to slow down anytime soon either. According to an annual survey from PricewaterhouseCoopers and the Urban Land Institute, Austin will remain a top target for real estate investors in 2016. Based on a survey of 1,500 real estate industry professionals, Austin is the No. 2 market to watch.

Barb Cooper, 2015 President of the Austin Board of REALTORS®, explained the situation: “While November single family home sales volume decreased slightly compared to last year, year-to-date home sales volume continues to outpace 2014. With the Austinarea population exceeding two million over the summer, growth in Central Texas is showing no signs of slowing.” According to the ABoR report, the median price for Austin-area single-family homes increased 10 percent year-over-year to $270,000 in November 2015, setting a record for the month of November. Monthly housing inventory remained at 2.4 months continuing to make Austin a seller’s market. The December 2015 Realtor.com “2016 Housing Forecast” predicts that 2016 will continue to show impressive growth for the local market. “In 2016, we expect single-family home sales in the Austin-Round Rock area to increase by 10 percent compared to 2015. Median single-family home prices are expected to increase by 5 percent,” the report states.

“The Texas state capital has become a perennial favorite among survey respondents,” reads the report. “Austin continues to benefit from diverse job creation ranging from service jobs to higher-end STEM and technology, advertising, media, and information (TAMI) positions. Austin remains an attractive place to live for all generations.”


Real Estate Market The Austin real estate market is very competitive and median housing prices are steadily increasing, but it’s also one of the healthiest in America. A new study from the financial website WalletHub ranks the health of housing markets in 25 big U.S. metropolitan areas, and Austin is positioned near the top.

AUSTIN

N

estled in the Texas Hill Country and dubbed by Forbes as the next Silicon Valley (aka “Silicon Hills”), Austin, Texas continues to be a shining economic star in the state of Texas and the U.S.

Technology and Venture Capital With an exploding population of young people and an increasing venture capital presence, Austin has the perfect mix of big business talent and a unique vibe that attracts young professionals and tech talent to the city. Austin boasts a reasonable cost of living and an unbeatable location. It is certain to continue growing as one of the nation’s leading tech hubs, with the city ranking first in the Kaufman Foundation’s Startup Activity Index for 2015. Nationwide the venture capital industry had one of its best years ever in 2015. Austin ended the year with $740 million in VC investments, up 20 percent from 2014 according to the MoneyTree Report from PricewaterhouseCoopers LLP and the National Venture Capital Association.

Austin isn’t just rocking the tech and housing markets — the city is also known as The Live Music Capital of the World.

Source: Federal Housing Finance Agency

WalletHub analyzed metro areas based on 10 key metrics. According to the analysis, Austin has the sixth healthiest housing market. The top 10 metro areas as identified by WalletHub are shown here:

The Shining Economic Star of Texas

“Lack of a personal income tax, relatively cheap real estate and a strong tech community in a carefully planned and revitalized downtown sealed the deal for hundreds of entrepreneurs who are flocking to Austin to set up shop,” according to a 2015 report from Forbes.

ANNUAL HOME PRICE APPRECIATION

FASTEST GROWING AMONG TOP 50 METRO AREAS Source: US Bureau of Labor Statistics, Current Employment Statistics

Non-Farm Payroll Jobs Difference

San Jose San Francisco

1,082,000 1,078,600

AUSTIN

964,200 36,100 3.9

Dallas San Antonio Salt Lake City Orlando Riverside Fort Lauderdale Atlanta

2,436,300 88,900 999,500 35,300 690,100 23,400 1,179,300 39,900 1,367,300 46,100 821,800 27,000 2,646,000 86,400

52,300 42,200

% of Change

5.1 4.1

Rank

1 2

3

3.8 4 3.7 5 3.5 6 3.5 7 3.5 8 3.4 9 3.4 10

“It was a great year for Austin in terms of overall progress,” said Krishna Srinivasan, partner in LiveOak Venture Partners in Austin. Srinivasan doesn’t expect a slowdown going into 2016. The technology industry in Austin is stronger than ever before, he added. The Forbes report shows that Austin is still leading the country in technology-based jobs. According to the most recent numbers, Austin is the No. 1 city for tech job growth — a title that they also claimed in 2014. The past 12 months have been excellent for Austin’s workforce as well. The jobless rate has remained below 4 percent for more than an entire year. In the past 15 years in the Austin area, there is only one other period, at the tail-end of the dot-com boom, during which unemployment stayed as low.

Overall Rank

Metro Area

1 2 3 4 5

Boston, MA Oklahoma City, OK San Antonio, TX Northern New Jersey, NJ Hartford, CT

6

AUSTIN, TX

7 8 9 10

New York City, NY Rochester, NY Philadelphia, PA-NJ Houston, TX

November 2015 did see a dip in Austin area home sales. After increasing for five consecutive months, home sales dipped four percent compared to November 2014, according to the Multiple Listing Service (MLS) report by the Austin Board of REALTORS® (ABoR). This is only the second decrease in home sales volume for 2015 to date, with the first decrease occurring in May 2015.

Millennials are predicted to be among the top buyers, and Realtor.com says Austin-Round Rock will be the fifth most sought out city for 25- to 34-year-olds looking to purchase a home in 2016. The report attributes the expected sales growth, in part, to Austin’s growing population. Compared to 2012, the local labor force and the number of households will have increased by 12 percent by 2016. Don’t expect the Austin real estate investment market to slow down anytime soon either. According to an annual survey from PricewaterhouseCoopers and the Urban Land Institute, Austin will remain a top target for real estate investors in 2016. Based on a survey of 1,500 real estate industry professionals, Austin is the No. 2 market to watch.

Barb Cooper, 2015 President of the Austin Board of REALTORS®, explained the situation: “While November single family home sales volume decreased slightly compared to last year, year-to-date home sales volume continues to outpace 2014. With the Austinarea population exceeding two million over the summer, growth in Central Texas is showing no signs of slowing.” According to the ABoR report, the median price for Austin-area single-family homes increased 10 percent year-over-year to $270,000 in November 2015, setting a record for the month of November. Monthly housing inventory remained at 2.4 months continuing to make Austin a seller’s market. The December 2015 Realtor.com “2016 Housing Forecast” predicts that 2016 will continue to show impressive growth for the local market. “In 2016, we expect single-family home sales in the Austin-Round Rock area to increase by 10 percent compared to 2015. Median single-family home prices are expected to increase by 5 percent,” the report states.

“The Texas state capital has become a perennial favorite among survey respondents,” reads the report. “Austin continues to benefit from diverse job creation ranging from service jobs to higher-end STEM and technology, advertising, media, and information (TAMI) positions. Austin remains an attractive place to live for all generations.”


NICK

Sotheby’S top pRoduceR

512.426.9183 | S t . N i c k @ S ot h e b y S R e a lt y . c o m |

www.StephaNieNick.com

PROVIDING A LIFESTYLE.

NOT JUST AN ADDRESS.

RepReSeNtiNg the diStiNctive wateRfRoNt, golf couRSe & gated NeighboRhoodS iN the moSt pReStigiouS aReaS of auStiN. 2 7 0 0 b a R to N c R e e k b lv d | S u i t e 2 0 0 | a u S t i N , t X 7 8 7 3 5 This material is based upon information which we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete, and it should not be relied upon as such. Properties on this list have been listes/sold by various participants in the MLS.This offering is subject to errors, omissions and changes including price or withdrawal without notice. © MMIX Sotheby’s International Realty Affiliates LLC. A Realogy Company. All Rights Reserved. Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully.

If your home is currently listed, this is not a solicitation for that listing.

Produced by UpscaleRealEstateMarketing.com • 877.660.0996

economic snapshot | 2016

STEPHANIENICK

AUSTIN

Stephanie Nick | Austin Economic Snapshot 2016  
Stephanie Nick | Austin Economic Snapshot 2016  

real estate