Austin Area home buyers are looking at larger spaces due to the effects Covid 19 has had on businesses.
Businesses are changing their operational practices because of COVID 19 with some pushing employees to work remotely permanently from major national brands to even some Austin area tech firms. Austin Board of Realtors’ Romeo Manzanilla said the Covid crisis also impacted home buyers preferences. “Alot of people have shifted their view to say does my current situation, my current home, still suit my new way of working. And if they don’t have a dedicated office, maybe they need a new larger home.”
He said this is boosting home prices and demand outside of Austin proper, “Spikes in the number of units being sold in the outlying areas of Hays and Williamson county is sowing that trend that people are moving alittle bit away out, in hopes of being able to purchase larger homes at a reasonable price.”
In Hays County, the number of homes sold spiked by 16% while its median home price dropped by 1.6% to $284,950. In Williamson and Travis Counties Manzanilla reported the number of home sales dropped by about a quarter each, but both still saw median prices grow. In Williamson, the Median grew by 6.6% to $300,000. In Travis it grew by 9.7% to $395,000.
