The surging Northwest Austin real estate market continues to outpace the Austin market as a whole, according to a new report from the Austin Board of Realtors.
Home prices for all properties in Northwest Austin—as defined by the six-ZIP code distribution area for Community Impact Newspaper’s Northwest Austin edition—hit a median price of $582,250 in April, according to ABoR’s latest Central Texas Housing Market Report. That represents a 37% year-over-year climb for homes in the market and also stands about $30,000 over the median mark for the city of Austin’s entire real estate market.
In Northwest Austin, single-family homes rocketed in price by 42.3% since April 2020, according to the report. Single-family homes, from Quail Creek to Milwood to Anderson Mills, now have a median cost of $641,000, the highest-ever recorded price in Northwest Austin.
“One year ago, shelter-in-place orders effectively ground real estate transactions to a halt, leaving uncertainty in the market,” 2021 ABoR President Susan Horton said in a May 18 news release. “Although striking at face value, last month’s housing market activity demonstrates not only a strong recovery since last spring, but significant growth beyond that recovery.”
