Austin, Texas, was rated as the fastest growing city in the country in 2015. The rush to the vibrant Texas city continues, and the search is on for convenient neighborhoods that have some elbow room. While the North Loop neighborhood's housing prices have increased along with those of the rest of the city, it is still less expensive than the city as a whole and other trendy neighborhoods. Its proximity to the University of Texas accounts for its large number of college students, and young professionals enjoy the many shops and green spaces and the neighborhood's convenience to downtown Austin. The North Loop's Austin condos are ideal for buyers who are looking to the neighborhood for homes for sale in Austin, TX.
The typical home in the North Loop was built around the 1940s and is a two-bedroom house of about 1,000 feet. There are a number of old-fashioned bungalows in the area dating back to before 1940. Condos tend to be smaller in the North Loop than in the rest of the state. As of December 2015, the median listing price for a home in North Loop was $390,732 compared to a median listing price in Austin of $527,000. North Loop, Austin real estate statistics show the neighborhood is less expensive than the most popular neighborhoods in Austin, with median listing prices of $520,194 for Steiner Ranch and $912,066 for downtown.
North Loop, Austin real estate prices have increased in the last few years; the median condo value in North Loop in 2013 was $297,200, compared to the statewide median of $132,000. This represented a slight increase from the 2010 median of $290,703 for a condo in North Lamar and Airport Boulevard. The rise in prices reflects the neighborhood's increase in popularity, though it still doesn't command the prices of trendier parts of the city. Browse through Movoto real estate listings, and you may find a condo like this new two-bedroom unit with hardwood floors, a high ceiling and walk-in closets.
The North Loop neighborhood's residents are typically educated professionals and students who flock to the area because of its proximity to the University of Texas at Austin campus. As a result, North Loop, Austin real estate market trends point to a large number of renters, who already inhabit 77 percent of the neighborhood's properties. That makes this area desirable if you're interested in purchasing a property for rental income. The area has a core of lifelong residents as well as many newcomers and professionals who work in downtown Austin. In recent years, there has been a proliferation of shops, restaurants and bars in the area, which is an official Independent Business Investment Zone.
The North Loop is attracting attention as a trendy spot, and it has plenty of desirable properties for families and singles. Talk to one of our agents about finding attractive Austin, Texas, condos in North Loop.
