The city of Austin has completely changed over the years. In the early 2000s, it was considered a small college town. Now, it’s a booming tech hub, with tech giants like Apple, Facebook and Oracle all building new campuses in North Austin.
Austin has grown accustomed to growing quickly. For the past eight years, Austin has surpassed all American cities in population growth. In 2018, the city saw an average of 100 new residents moving to the city per day, according to April 2019 numbers from the U.S. Census Bureau.
More than one million now people live in Austin. The primary contributors to its growing population is the four percent increase in the number of businesses (almost the highest in the country) and the increasing number of tech companies. Austin is also well known for its live music, Tex-Mex cuisine and music festivals.
At an area of 271 square miles, the city is sprawling and filled with different neighborhoods. They range from bustling urban areas filled with shops, restaurants and bars to quiet family-friendly suburbs. For all these reasons, Austin is widely hailed as one of the best places to live in America, and a popular destination for tourists.
Steady population growth has created a higher demand for homes in the Central Texas housing market, which has resulted in several new construction developments being built. In 2019, the median home price was $326,500 which is up two percent from 2018. There were 2,544 homes for sale in the greater Austin area in December 2019, which is fairly comparable to 2018. The average days on market (DOM) was 62 days, similar to December 2018.