Hot Housing Market

These booming Austin ZIP codes have seen home prices grow the most, study shows

These booming Austin ZIPs have seen home prices grow the most

Cedar Park neighborhood aerial shot of Austin suburb
Areas west and north of Austin are seeing the biggest boom.  RoschetzkyIstockPhoto/Getty Images

KVUE — Central Texas real estate is booming at a rapid pace, but exactly how much has it grown since before the COVID-19 pandemic?

new study released by Orchard looked at all real estate transactions for each ZIP code in the Austin area from January to March 2020 compared to the same time frame in 2021.

Areas west and north of Austin are seeing the biggest boom in both median home prices and days on the market, according to the study.

Homeowners are flocking to places like Marble Falls, Burnet, Leander, and even Wimberley, where median home prices grew by 68 percent, the biggest jump of all ZIP codes.

While multiple factors come into play — including new tech giants moving to town —  the coronavirus pandemic also played a significant role in this shift. Homebuilding supplies ran into shortages, and people started working from home more, so commuting was no longer an issue.

"That 60-minute commute is not really as big of a deal when you're only looking at maybe doing it once or twice a week," said Rachel Bennett, a home advisor at Orchard. "People are really willing to do that if it means I get to buy a larger house in a nicer area that I am happier with."

The report also found that 29 ZIP codes in the Austin area had median home prices over $100,000 more than what they cost in the months leading up to the pandemic.

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