I saw a recent headline highlighting a new record real estate sale in Silicon Valley: a home recently sold for $2,358 / sq ft. Originally listed for $1.45M, it sold in 2 days for $2M. The price / sq ft is high because the home was only 848 sq ft, but the overall sale pricing is actually fairly representative of the area (which is still ~10 miles from downtown San Jose). Very impressive. If you wanted an overview of area pricing, here is a recent article that does a good job.
I thought I would take a look around and pull some metrics for Austin in the context of that article and specific sale:
First, if you want to live ~10 miles from downtown, what does pricing look like? Just to give you a sense of where that takes you in relation to downtown Austin:
- South of Slaughter Ln
- East of the 130
- North of Braker
- West of Barton Creek Blvd
Note: to try and compare with the subject property in the article, I am doing my property search in a halo / band around Austin between 9-11 miles from downtown Austin.
Obviously pricing will vary depending on which direction you are going from downtown. Generally, median list prices can be summarized this way:
Here is a link to active results.
Second, if you had $1.5 – $2M to spend on Austin real estate today, and wanted to be within ~10 miles of downtown Austin, what could you get?
Link here to the results.
A couple of observations:
- The majority of those listings are in the Westlake and Barton Creek areas
- There are no listings east of I-35 within 10 miles of downtown between $1.5 – $2M
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