AUSTIN (Austin Business Journal) — In Austin, a $1 million home is no longer quite so extraordinary.
The median home price in the city has been creeping steadily into the mid-six figures. In May, the median price in the city hit a historic high of $566,500 — and that’s just for a typical home.
In May 2018, 104 homes in the Austin metro sold for more than $1 million, according to Redfin (Nasdaq: RDFN). That amounted to about 2.9% of all home sales that month. By May 2021, the number had more than tripled. That month, 347 homes sold for higher than $1 million, making up 9.2% of total home sales.