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3 popular Austin neighborhoods that still boast a good bang for your buck

Crestview still offers good bang for your buck, like this home at 1902 Brentwood St.

Photo courtesy of Gottesman Real Estate

Austin’s popularity as a hip place to live is growing every day, making the competitive Austin real estate market tough to navigate. Most Austinites (new and experienced alike) know areas like Clarksville and downtown are some of the city’s most exclusive, sought-after neighborhoods. But Clarksville and other areas in the hot 78703 ZIP code have an average listing price that's out of reach for many buyers.

Instead of limiting your search to these pricey areas, why not check out some of Austin’s most popular, up-and-coming neighborhoods? These areas have seen a large amount of growth over the last few years, making a real estate investment a wise decision, but they aren’t quite as expensive as the aforementioned hot spots, giving you greater bang for your buck.

Westgate
A home for sale in this southwestern Austin neighborhood will cost you around $461,670 (the current average listing price, according to Trulia). Westgate is located near some of South Austin’s most popular neighborhoods, Barton Hills and Barton Creek, and due to its proximity and comparatively low prices, the neighborhood is almost guaranteed to continue to rise in popularity over the next few years, making this is a good time to invest.

For example, check out the listing at 7233 Manchaca Rd. #12. This home, currently listed at $334,900, features freshly installed solar panels, three bedrooms and two-and-a-half bathrooms.

Crestview
In the heart of North Central Austin is the charming neighborhood of Crestview, with a current average listing price of $523,842. Crestview is in a great location for families and individuals that want to be close to downtown, but it's far enough away for a little peace and quiet and Old Austin charm.

There are many beautiful homes for sale in Crestview, but one of our favorites is the property at 1902 Brentwood St. Listed at $599,990, this darling, three-bedroom, two-bathroom home is newly renovated with updated hardwood floors and granite countertops. It's also walking distance to nearby Brentwood Park, making it an ideal location for families.

Windsor Park
Windsor Park is definitely up-and-coming, with an average listing price of $349,081 — relatively affordable for its location. Located a little farther east of downtown, the neighborhood is home to larger lots of land, with a good mix of pricier and cheaper homes. For that reason, Windsor Park has some of the best deals on this list, with homes in a wide variety of price ranges and sizes.

One such listing is 5209 Robinsdale Ln., a three-bedroom, two-bathroom bungalow listed at $424,500. This property features a beautiful, wide-open floor plan, with a fantastic kitchen featuring granite counters, wood cabinets, and a breakfast bar. It is currently under contract.

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local real estate report

Homebuyers can afford to be picky as Austin housing inventory rises

Photo by Avinash Kumar on Unsplash

Housing economist Clare Losey said the most significant factor affecting home sales in Austin is high mortgage rates.

The latest real estate report from Unlock MLS and the Austin Board of Realtors (ABoR) has revealed housing inventory is still on a steady rise in the Austin-Round Rock-San Marcos MSA, creating more choices for potential homebuyers as they navigate a high interest rate market.

Residential home sales dipped by a mere 1.5 percent year-over-year from October 2023, amounting to 2,248 closed sales in the Austin-Round Rock-San Marcos MSA. Median prices have also dropped to $430,000, or 3.2 percent less than this time last year. More than 3,300 new home listings were added on the market — a 7.4 percent increase from 2023 — bringing the total number of active home listings to 11,599.

According to Unlock MLS and ABoR housing economist Clare Losey, Ph.D., October's mortgage rates stood at 6.4 percent and are showing no signs of a significant drop in the near future. Even heading into 2025, Losey says potential homebuyers who are biding their time in the hopes of seeing rates plummet "may be in for a long wait."

"In the meantime, sellers must recognize that bringing buyers to the table requires a more aggressive pricing approach," Losey said. "Even in a more balanced market, buyers with limited purchasing power are struggling to meet current price expectations."

As for the overall health of the Central Texas housing market, 2024 Unlock MLS and ABoR president Kent Redding labeled recent news reports that called Austin "ground zero" for a downturn as an "extreme over-exaggeration."

"Austin led the state and nation in record-breaking home price growth and sales activity during the pandemic," Redding said. "For three years, near-zero housing inventory, numerous offers above list price and a rapid-paced market raised home prices and left little negotiating power for buyers. During this record-setting growth, ABoR and Unlock MLS consistently emphasized the unsustainability of the rapid growth, and now, our market is working to balance those extremes."

Central Texas housing trends in October 2024

In Travis County, 979 homes were sold last month — a slight 2.5 percent increase from last year. Median prices remained flat year-over-year at $510,000. Active home listings continued growing to 5,702 homes, which is 9.4 percent more year-over-year.

In Williamson County, 807 homes were sold in October, with median prices steadily dropping to $420,000. There were 1,028 new home listings on the market, showing a 4.5 percent increase from October 2023, bringing the total number of active home listings to 3,369.

Residential home sales dropped by nearly eight percent in Hays County in October, totaling 315 sales. Median prices also fell 5.5 percent year-over-year to $359,000. Active listings rose 6.6 percent year-over-year to 1,740 homes with the addition of 534 new listings on the market.

Meanwhile, 114 homes were sold in Bastrop County last month, which is 4.4 percent more than this time last year. Median prices dropped by a single percentage point year-over-year to $355,000. There were 654 active listings on the market in October, and 152 new home listings, representing a 1.3 percent slip in new inventory when compared to last year.

Only 33 homes were sold in Caldwell County in October to reflect a near 14 percent decline year-over-year from October 2023. Median prices fell to $262,990, which was a 13.5 percent decrease from last year. There were 136 active homes on the market last month, and 40 new homes added on the market.

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