It’s no secret that the Texas Hill Country has been a booming real estate scene for several years now. The growth in Austin has created a ripple effect and the outlying suburbs have also seen monumental growth with Hays County growing 53% in just the last decade.
For a long time, this area was heavily a seller’s market, but industry experts are predicting a shift over the course of the next 12 months, bringing a bit more balance to the selling/buying equation.
According to real estate platform Knock, the seller’s market hit its peak in April of 2022 and has been cooling off ever since. The real estate market is still hot, but buyers now have a better seat at the table, explained Knock CEO Sean Black. That’s why you no longer hear about bidding wars mere hours after a property goes on the market. “Sellers are more willing to take offers from buyers that are not asking or above,” said Black.
As of January 2023, the median home price in Hays County is $427,665, up 7% from last year, but still cheaper than the median home price in Austin.
So to answer the question, is now a good time to buy a new home in Central Texas?
Yes! And here are a few reasons why.
Big City Action, Small City Appeal
Kyle’s population is just over 51,000. This makes it a small city in the shadow of the much larger Texas capital. This isn’t a bad thing, however, on the contrary, it’s actually pretty appealing. Kyle residents don’t have to deal with the everyday traffic that comes with living in Austin, yet they’re only a half-hour’s drive if they want to head into the city for a concert or sporting event. With easy access to a major airport and the appeal of living in a smaller city, Kyle offers the best of both worlds.
Jobs, Jobs, and More Jobs
While national news may stoke recession worries, Texans are sitting in a good spot. In fact, economists at the Federal Reserve Bank of Dallas say that the state’s strong economy puts it in a good position to weather any economic troubles. The Lone Star state led the U.S. in job growth in 2023 and Central Texas was a huge part of that. Kyle sits in an ideal location for employees who commute into Austin, and its own economy is rapidly growing in the areas of manufacturing, logistics, and business services.
Affordability
Texas not only enjoys a strong economy but an affordability that provides a comfortable lifestyle few other states can match. Housing expenses in Kyle are lower than the national average and lower than in many other parts of Central Texas. It’s this affordability factor that contributes to the appeal of Kyle and Hays County.
If you’re currently on the hunt for a new home in Central Texas, then you owe it to yourself to look into the available homes at Crosswinds. This master-planned community currently has a variety of homes available and ready for quick move-in. Now isn’t just a good time to buy in Central Texas, it may be the best time. Contact the Crosswinds team to get started.