I did some research for a client the other day that I thought would be great to include in my blog.
Here is the average sales price and average $/SF for a subdivision in NW Austin (Click here for google map for location). From looking at the numbers, this subdivision appears to have a strong appreciation potential for the years to come. Milwood is also in a great location (15-20 minute drive to downtown Austin with no traffic) and the prices of this subdivision are still affordable when you consider some of the prices of more centrally located homes.
Milwood Subdvision statistics for 1-Story Homes
Year Average Sales Price Average $/SF
2000 $119,391 $ 83.29
2005 $138,286 $ 94.78
2009 $175,319 $117.98
To put this in perspective, if you bought a 1-story home in Milwood in 2000 at the average $/SF and then sold it today at the average $/SF, you could gross nearly $60,000 in profit or equity.
I am thankful everyday to wake up in Austin, TX! We have one of the best markets in the country. I know there are many people losing money in real estate and other investments. Call me today and let me show you how to make money in real estate while leveraging a basic need, a roof over your head.
Thank you JScreationzs for the image.