Austin, TX (PressExposure) June 04, 2009 -- The Austin real estate market has seen many ups and downs through the past three months (Jan 2009- March 2009). The interesting thing about the Austin real estate market is that the prices kept on swinging more frequently, going up to $250k mark from $230k and then falling back again. The graphs plotted with the data of selling price prevailing in the Austin real estate market for the period Jan 2009 â March 2009 will show a âwâ shaped patternâ says Mr. Joe Cline.
He added that, âI am not going to overwhelm you with numbers and figures anymore, letâs get to the point now. Though the real estate market seems to be depressed world-wide and is waiting for a recovery, the Austin real estate market has survived the toughest economic period successfully. The sale prices of the office spaces in Austin have fallen by 27% this March and hence they have sold very quickly. Many investors are very much interested to buy properties in Austin because of the ready availability of properties and the very affordable pricing.â
âTowards the end of March 2009, the real estate prices climbed up and turned favorable to both the sellers and buyers equally. These are favorable signs for the growth of Austin real estate market. However, it is not wise to foresee the market condition by just seeing an increase in the prices of properties for just one month. If the prices continue to rise, investors will be able to reap great returns in near futureâ, says Mr. Joe Cline
He concluded that, âThe current Austin real estate market condition is really favorable for the buyers. The oversupply of the properties and office spaces in Austin and the falling prices are good opportunities for the investors. Austin is one of the best places in the country for both individuals and businesses; best quality of life, good employment growth, etc. The smart money is on the move to acquire properties in Austin.â