Nestled in between lush green trails, canyons and tall rugged hills, Texas Hill Country features spacious historic homes and has become a popular area for its beauty and low cost of living.
The housing market in Texas is booming due to an influx of new residents moving to Texas either for new jobs or its affordable housing. Texas Hill Country is no exception. According to the Commerce Department, the strong job market coupled with the thriving economy has made the state of Texas the second fastest growing economy. The region is experiencing a surge in new construction including the creation of new sub-developments and a spike in commercial real estate developments.
In Texas Hill Country specifically, the creation of new jobs and new builds in real estate development has empowered renters to become first time home buyers and current home owners to upgrade from modest into more luxurious homes. The region reports an increase in average price of six to eight per cent YOY with the median cost ranging between $275,000 and $350,000 depending on property type. Residents in the Lone Star State enjoy some of the lowest property taxes in the country.
The housing market is showing no signs of slowing down. Currently, average days on market (DOM) range from 20 to 27 days within a municipality and go up to 80+ days for rural markets. The region is enjoying an increase of new job creation, additional schools and municipal buildings. This means better access to public services and a smoother commute to and from work, home and school for local residents. The housing market is healthy and the future is bright for Texas Hill Country