Looking for 250 - 500 Words on Austin Real Estate Market Trends

Planned use is in a business plan. This will be used in a "Market Trends" section. Some initial research done, so you can pull in a lot of info already out there. Focus of business plan is urban neighborhood tear down and build (densification). Experience writing in real estate a huge plus. Austin market experience makes you the winner. Tight deadline... End of day tomorrow. May lead to future work with other areas of my business and marketing plan. Would love to get data or quotes in on how younger families and affluent professionals are looking for smaller spaces closer to Austin's urban center. Starter Research: [login to view URL] Some copy from our plan so far: Austin, Texas has continued on the path of economic growth with exceptional low employment and new business, in fact according to Forbes magazine, Austin remains "no. 1 for small business", and Kplinger Personal Finance refers to Austin as "One of America's best Cities for the past decade." This magnetic economic appeal transcends to new professionals finding housing in the Austin area. The attraction that the city classifies as urban regeneration of business development, cultural arts, entertainment, and wonderful cuisine, equates to a city thriving. The challenge for Austin housing is supply vs demand. Where homes in the downtown area attracts buyers paying higher prices for modern new construction in the vibrant neighborhoods surrounding downtown, the obvious shortage requires a solution. The challenge of a thriving market is that it’s a strong seller’s market so price will always be at what the market will bear.  Therefore, securing lots to build homes will be at a prime rate. However, long term, those numbers will sustain continuous growth equating to higher prices remaining consistent to benefit our company. To support this claim, the Austin Board of Realtors, April 2016, offer these facts: Austin Market Statistics (April 2016, Austin Board of Realtors): Median price for single-family home, 7% higher than April 2015, $288,198 vs. $268, 024 Single-family homes sold 5% more than April 2015, 2,600 vs 2,470 Average number of days on market unchanged from 2015, 47 days Active single-family home listings up 9%, 5,553 vs 5,053 Pending home sales up 13% year over year, 3,072 vs 2,673 New homes on market up 3%, 3,761 vs 3,648 Total dollar volume of single-family properties sold 9% higher, $911M vs $829M The economy in Austin continues to grow and unemployment is estimated at 2.6% by the US Bureau of Labor Statistics. Economic growth continues to push up population and demand for housing particularly in areas of the city close to technology companies. The tech industry fuels this new employment growth which in turn supports this housing demand and consumer capital influx.