The Carvajal Group Blog

Two East Austin neighborhoods poised for appreciation in 2012 and beyond

February 3rd, 2012

Austin was a solid real estate market in 2011.  Prices remained stable with sales volume increasing and inventory decreasing.  Most Austin real estate professionals expect the trend to continue and prices to start to rise in 2012.  Here  are two areas in particular that should see significant appreciation this year and in the future:

South Shore/Parker Lane: often referred to as Travis Heights East.   The Austin American Statesman featured an article about this area last Sunday, but the savvy agents at the Carvajal Group were already a step ahead of them, sending a marketing blast to property owners the week before.   With the revitalization of E. Riverside Drive this area  should see an increase home values in the near future.  Recent and ongoing development include the opening two music venues, the Beauty Ballroom and Emo’s East, and two new luxury apartment communities, the Amli Southshore and  RiverView(under construction).   Homes in fair condition can be bought under $140/sq. ft. compared with $275 to $300+ per sq. ft. just across the highway in Travis Heights propper.  Most of the homes is this pocket are well maintained, particularly in the Mariposa Heights Subdivision.  The proximity to downtown and space for the money are unmatched. (Search this area).

Holly Street:  East Central Austin as whole has appreciated rapidly over the last 15 years. There are still many urban infill development projects going on and the Holly Street neighborhood is characterized by early to  mid century cottages mixed with modern new construction.  should see a boost in value with the Holly Power Plant being decommissioned and a 9.5 acre park taking its place to beautify the area over the next few years(Search this area).

I believe home prices in Austin as a whole will start to rise in 2012 as professionals who have relocated here begin to buy.  It has been well documented that we have a shortage of rental properties and that rents in Austin are at all time highs.  Renters who are able would be wise to consider buying before increased demand drives prices up. In my opinion, The Holly Street and Parker Lane neighborhoods are two of the most attractive 3 to 5 year plays for appreciation.

To begin your Austin Home Search or for more information on Holly Street, Parker Lane, or other Austin neighborhoods, call me today at (512)496-0215.

 

Tags: Austin Home Search · Austin Homes for Sale · Austin Real Estate · Austin Real Estate Market · Buying a home in Austin · East Austin Real Estate