In a city like Austin, it’s hard to determine the hottest neighborhoods in real estate when it feels like every neighborhood is appreciating (hint: it is and they are). To help sort it all out, your friends at SEED have crunched the numbers to bring you a list of the fastest appreciating neighborhoods in Austin. We looked at sales volume, average sales price, inventory from 2010, 2015 and today, and we’ve sorted it all by zip code and neighborhood. Hold onto your boots…
#1 – 78721 – 205% increase
For some this is considered “far East Austin” others refer to it as “East of Airport Boulevard”. It’s a collection of modest original homes built in the 50s and 60s intermixed with new construction. Proximity to downtown and hot East Austin bars and restaurants makes it particularly attractive to young(ish) professionals and families.
#2 – 78741 – 149% increase
Encompassing East Riverside and Montopolis neighborhoods, 78741 is also the home of IBM’s cloud computing campus. With its close proximity to downtown, the East Riverside corridor has long been a target of major developers. City of Austin is currently considering a massive rezoning of 4700 East Riverside to allow for a mix-used live, work, play community which will potentially provide up to 4700 new housing units (point of controversy is the displacement of 1300 existing affordable housing units…but that is a whole other debate).
#3 – 78758 – 113% increase
Home to the Domain, the coming soon pro soccer stadium Austin FC, and pocket neighborhoods like Gracywoods and Quail Creek, 78758 is conveniently located to major employers at the Domain and Round Rock to the north as well as “everything Austin” to the south. 78758 offers homes built in the 70s and 80s and we are seeing more and more new construction on the horizon.
#4 – 78704 – 103% increase
Ahhhhh… the “04”… it’s not a zip code but a lifestyle. South Congress, Bouldin, Barton Hills, and Zilker are the priciest neighborhoods of the 04, but coming on hot are neighborhoods south of Oltorf surrounding Saint Edward’s University and the Dawson neighborhood between South Congress and South First.
#5 – 78752 – 100% increase
Thanks to the new massive Austin Community College campus that took over Highland Mall, a conveniently located commuter rail station, this zipcode which includes the Highlands neighborhood, has become one of the last affordable “central Austin” frontiers for housing. Original homes under $400,000 are still a regular occurrence, although, we are seeing more and more new construction that is breaking the $600,000 mark.
#6 – 78723 – 98% increase
Mid-century ranch style homes of Windsor Park and University Hills along with the modern constructed Mueller community situated 20 minutes from downtown Austin made home prices boom in this close-in pocket of Austin. The median home price went from $214,000 in 2010 to $376,000 in 2015.
Are you looking to find the perfect Austin neighborhood to call home? Contact your SEED agent today. We can help!