The Austin real estate market isn’t simply heating up, it’s on fire as 343,832 people migrated to the greater Austin area between 2006 and 2013, rocketing the median home sale price to $280,000. While 17,736 apartments are currently under construction in Austin, many of the capital’s 8,966 single family building permits issued from November 2012 to November 2013 took place within the luxury market. In 2012, Austin’s median household income was $8,062 higher than the national average and $8,693 higher than the rest of Texas, spurring $883 million in home sales in 2013 for luxury homes priced at $1 million or more. As a whole, single-family home sales in the Austin area were up 19 percent in 2013 over the previous year, generating $7,933,813,683 in sales and marking an impressive 28 percent increase over 2012.

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