Statistics show that the Southwest Austin area just south of Ben White Boulevard with zip codes 78748 and 78749 are the two largest growing residential areas in metro-Austin.
In the Austin real estate market over the past five years, Southwest Austin has been the fastest growing sub-market. From 2006 to 2010, the region has accounted for ten percent of the market because of the high number of homes constructed in a relatively small part of the market. Austin’s division manager of Residential Strategies, Tommy Tucker, stated, “For one sub-market out of 25 sub-markets to control that much of the market is a pretty dominating performance”.
Not only has there been significant residential development in the area, but it beats out all other sub-markets in terms of business development. Between 1997 and 2007, Southwest Austin grew by 53 percent compared to the 35 percent average of the rest of metro-Austin. Furthermore, employment in the area grew by 70 percent in Southwest Austin, and only 41 percent in Austin overall.
Real estate experts predict that the area will continue to grow both commercially and residentially, but at a slower rate than over the past few years.
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