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The Addie at Westlake is under construction in West Lake Hills. (Courtesy Legacy Communities)

A new residential community, The Addie at Westlake, is under development at 800 N. Capital of Texas Hwy., Austin.

Legacy Communities, a residential real estate development company, broke ground Jan. 27 on the new community, which will feature 12 townhomes and 34 single-family homes, according to Marketing Director Ashley Rust said.

The Addie at Westlake received early interest from buyers and is nearly sold out just a week after kicking off construction. Rust said as of Feb. 4, only nine homes remain available, with prices starting at $1.5 million.

Legacy Communities anticipates the first home to be completed in early 2022, according to Rust, who said the architecture will feature a modern-European style with two- to three-story floor plans…

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2020 was a year of record-breaking real estate sales in the Austin-Round Rock Metropolitan Statistical Area. Despite a temporary lag caused by the coronavirus pandemic, the demand for housing reached an all-time high.

This is according to the Austin Board of Realtor’s December 2020 and year-end Central Texas housing report released Jan. 21, which reflected a record-breaking 40,165 homes sold last year.

“This is a historical and unprecedented time for our housing market,” 2021 ABoR President Susan Horton said. "The pandemic only increased demand for all types of housing across the region, pushing inventory to near-zero levels."

Residential home sales rose by 16.2% year over year in December alone as the median sale price increased by 15.8%, a record for…

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StoryBuilt's latest project: $50M housing development just south of Mueller

A developer is gearing up to build 80 townhomes and 36 single-family homes in Central East Austin, where new housing is proliferating.

The 116-home, $50 million development is planned at 2211 E. M. Franklin Ave. — between Martin Luther King Jr. Blvd. and Manor Rd., just west of the municipal Morris Williams Golf Course — by Austin-based residential and commercial developer StoryBuilt and will be called George.

Construction has not yet started. The developer said homes will start to come online in the fourth quarter of this year. All residences would be completed by late 2022.

In addition to the 80 two-story townhomes and flats and 36 single-family homes, there will be expansive green space and a community pool. George is the name…

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With Tesla's factory supercharging the Austin housing market, experts say the far-flung reaches of the metro stand to benefit as well.

“In an already hot real estate market, it’s turning it up to broil," said Vaike O'Grady, Austin regional director of housing market research company Zonda, formerly known as Metrostudy.

The construction of Tesla's $1.1 billion gigafactory is having an effect on housing from Georgetown down to San Marcos, O'Grady said. Realtors have said employees of the electric vehicle company are already scouring the metro for homes. In one example, a Tesla employee sought a home for less than $750,000 on the west side of Georgetown, learning along the way that Central Texas sellers don't need to haggle.

In another, a Tesla…

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Austin is known for a lot of things, but its walkability isn’t one of them—in fact, it’s a middling 33rd most walkable in the country, by at least one metric, which gives it a walk score of 40 out of 100. It does a little worse on its transit score (34) and much better on being bicycle-friendly (54).

Obviously, though, some neighborhoods are more pedestrian- and bike-friendly than others. With restaurants, shops, housing, and museums clustered together, often on the same block, Downtown Austin is great for walkers. The winding, often sidewalk-free streets of Northwest Hills? Not so much.

To get a sense of which neighborhoods in Austin offer the best car-free experience, we rounded up the ones with the highest ratings on Walk Score, a site that…

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Bee Cave City Council met Oct. 13 to discuss the establishment of a public improvements district at the future site of The Backyard development. (Rendering courtesy city of Bee Cave)

As progress continues on The Backyard development in Bee Cave, residents could see the establishment of the first public improvements district within city limits.

The PID, according to city information, would permit Bee Cave to levy an assessment against properties within a selected area to pay for desired public improvements that would primarily serve that area. Bee Cave would then issue bonds to fund those capital projects and pay them off by levying an annual installment on those within the PID.

Bee Cave City Council unanimously passed a resolution during an Oct. 13 meeting to establish a PID following a presentation from Robert Rivera, a representative of FMS Bonds Inc. and the city’s acting PID underwriter.

In this case, the PID will pertain to the…

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Privately situated at the end of the cul-de-sac, this incredible home features an oversized lot with breathtaking panoramic views of the hill country. Enjoy spectacular sunsets by the pristine pool from one of the many outdoor entertaining areas. With approximately 4,200 square feet, this home has a space for every purpose and has been recently updated with fresh paint and carpet. The main level boasts a spacious formal dining, executive office, powder room, gourmet kitchen that opens to an oversized sun room with incredible views, a formal living room and the Owner’s retreat. The upper level features views of the hill country from almost every room - four spacious bedrooms, two full bathrooms, an additional study and a large media room. Ample…
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The national and local economies are in recession, and unemployment rates are double what they were last year, but the housing market has been unscathed by the COVID-19 pandemic—especially in Austin, where demand for housing has soared in recent months.

“It’s one of the few industries that really is going strong when you look at the U.S. economy, the tate economy and the Austin economy,” said Jim Gaines, chief economist at the Texas A&M University Real Estate Center.

In the Austin metro, data from the Austin Board of Realtors shows home sales to date in 2020 are higher than in 2019 despite a dip in early spring when, Gaines said, buyers were reluctant to put their homes on the market and risk exposure to COVID-19. In Central Austin, the median price is up…

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Though Austin’s residential real estate market traditionally experiences a lag heading into the fall, the region saw double-digit growth in sales this September.

This is according to the Austin Board of Realtors' September market analysis which attributed the growth to decreased market activity during coronavirus shutdowns in the spring.

Residential home sales increased 31.5% year over year across the five-county Austin-Round Rock Metropolitan Statistical Area, per the analysis.

Additionally, sales dollar volume rose to $1.77 billion, reflecting a 51.7% surge from the previous year. Median home prices and pending sales also experienced double-digit growth in September.

However, active listings dropped by nearly 50%, and inventory remains low, at 1.2 months,…

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Cedar Park neighborhood aerial shot of Austin suburb

There's no way around it: Austin's suburbs are all the buzz, with Leander landing a massive entertainment hub and Round Rock earning a top spot among the fastest-growing cities. Now, Cedar Park is shining as one of America's best small cities for 2020.

The list comes from personal finance website WalletHub, which looked at 1,200 U.S. cities with populations between 25,000 and 100,000 for the study. Rankings in five individual categories — affordability, economic health, education and health, quality of life, and safety — were rolled up into an overall score, then assigned a percentage.

"Given the large sample of cities ranked in this study, we grouped cities by percentile. The 99th percentile represents the top 1 percent of small cities in…

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