Austin Gained 12th Highest Seller Profit Increase
As stated by ATTOM Data Solutions on their home sales report for the third quarter of 2021, U.S. metro areas with a population of at least 200,000 and 1,000 single-family homes and condo sales showed how strong the U.S. housing market remains. This report discloses that the typical home sale across the country generated a profit of $100,178 as the national median home price hit a record of $310,500. It was increased by 3.5 percent from the second quarter of 2021 and 15.9 percent from the 3rd quarter of 2020.
In the Austin area, being the 12th highest seller profit increase among U.S. metro areas, the typical home sale generated a 70.9 percent profit for the seller. In dollar terms, if the home were purchased for $192,656, the resale price would be $465,000. Soaring profit for sellers that they made on their original cost. Housing demand in Austin is spiking due to tech giants that attract workers to move to the area.