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Hyde Park Austin Housing Trends

Real Estate Market Trends For: Hyde Park


Introduction: The area known as Hyde Park is one of Austin’s beloved historic neighborhoods with homes well over 100 years in age. The original plat maps date back to 1891 but the neighborhood did not really take off until the 1920s through the 30s. During this building boom the majority of homes were of a traditional bungalow design and of modest size.

Since that early boom, Hyde Park has remained an area of predominantly upper-middle class homeowners. One can understand the reason for higher home values when you consider that Hyde Park is less than three miles to downtown. Typical home prices are around $325,000 to $380,000 or $230 to $306 per square foot of living area. The area is seeing incredible demand and appreciation, but the small size of the homes is not always well suited to the type of buyers that are interested in living here. As such, we’ve seen several old homes torn down or updated to reveal new structures well over 4,000sqft in living area.

The neighborhood is also within walking distance to the University of Texas. This makes it a prime location for students and faculty who want to enjoy the beautiful tree-lines streets, yet be minutes from all the action. As with most areas in close proximity to colleges, the local businesses range from pubs and pizza shops to more boutique and high-end shopping up and down “the strip”. It really give Hyde Park a certain charm that you cannot find anywhere else in Austin.

Inventory and Sales: This housing market has great liquidity with a strong demand for homes due to its central location. Sales volume for the year is approximately 16% higher than the previous year and inventory remains right below four months total. Correctly priced homes in this market typically sell in less than 30 days.

Distressed Sales and Listings: Distressed sales are fairly uncommon in Hyde Park, although there have been a few; the number remains well below the market affecting threshold of 10%. Current homes for sale range in asking price from $220,000 up to $899,000. Obviously there is big difference between selling an older home without updates, and a newer, larger home with all the bells and whistle.

New Homes and Construction: New home metrics are a bit deceiving within this market because of the Historic designation of many of the homes. It can be quite costly and sometimes impossible to build new where a home currently stands. Instead, many builders will use part of the original structure to expand the home. Often times these properties are not listed as new construction, even though as much as 80% of the home may be renovated or newly built.

Overall Market Conditions: The market conditions for Hyde Park remain strong with increasing median sales prices, new high sales prices, and low days on market. As demand for housing in and around Austin continue to grow, Hyde Park will remain a neighborhood high on anyone’s list of places to live.

Click Here to Download the Report

This report was created utilizing data from the Austin MLS system, as input by local Austin Realtors. This report should be considered a “Macro View” of the market. Only single family housing trends have been analyzed and while they represent the majority of real estate sales in the market area, this report should not be considered all encompassing. If you would like a more precise analysis of a specific segment within this market area, feel free to give us a call!

 

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Austin neighborhoods we appraise

We provide real estate appraisals and related services to the following cities, towns and communities across the Austin metro area. We cover a large portion of Central Texas - if you don't see your area below, please call to confirm with one of our friendly staff.

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Anderson Mill | Bee Cave | Briafclif | Brushy Creek | Buda | Cedar Park | Creedmoor | Del Valle | Elgin | Georgetown | Hays | Hutto | Jollyville |
Jonestown | Kyle | Lago Vista | Lakeway | Leander | Manor | Mustang Ridge | Pflugerville | Point Venture | Rollingwood | Round Rock |
San Leanna | Shady Hollow | Sunset Valley | Webberville | Wells Branch | West Lake Hills

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Real Estate Appraisals Austin
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Based on 45 reviews
Ed came out on short notice to measure a new home I was in the process of purchasing. He was professional and honest in his work. I found him online and it was not through my lender. I wanted an independent appraiser since the lender was connected to my builder. Definitely will use him again if I ever needed to. I was a first time home buyer and he was fair to me and helpful. Thank Ed!
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Jennifer Nguyen
The realtor that came out was very professional and thorough. I would recommend this service.
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Nancy Crow
This company is contracted to my mortgage company for market appraisals to remove PMI. They contacted me right away and had the whole thing turned around in less than a week. Appreciate the speed and the quality of the service and would definitely recommend.
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Jeanna Kozak
I was able to schedule an appraisal just two days after contacting the company. Likely this was a fluke, but it worked well for me! Our appraiser was a bit late, but that was the fault of the previous appointment. Once he arrived, he listened to everything we pointed out. Our appraisal was fair for our neighborhood we thought and the report arrived about 8 days after the appointment. We are happy and will recommend Real Estate Appraisals Austin to any others we know.
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Leah L
We used Real Estate Appraisals Austin and found them to be very professional, accommodating and efficient. Their work product was thorough and very well presented. We would definitely recommend them and would use them again.
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Calvin Porter
I recently had a rental appraisal of my property. The appraiser showed up on time and did a thorough analysis. The report took a week, but it was very thorough. I am very happy with the appraiser and the report.
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Karthik Manamcheri
We recently used Real Estate Appraisals Austin to appraise a property we have owned over 15 years and have had multiple offers to sell. Michelle was very helpful and professional in coordinating with our property manager. She responds very quickly to calls or emails. Edward did a thorough appraisal and took the time to call and discuss details. I definitely would recommend this company to anyone considering an appraisal in Austin. The price was very reasonable, I felt, for the value we received.
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Lorrie Coles