How Texas Boom Towns Affect Lake LBJ Real Estate
According to Forbes, Austin was named the #1 out of the 53 largest metro areas in the country as the next boom town. Houston, Dallas and San Antonio were not far behind at #s 6, 7 and 8 respectively. According to the analysis, Austin experience a 13.2 % population growth from 2010- 2014 and other Texas cities experienced less but similar growth patterns. Population growth, double-digit job growth and a high population of educated people are all part of the reasons the cities ranked so well. So what exactly does this mean for Lake LBJ Real Estate.
Currently we estimate that there are approximately 2000 good waterfront tracts on Lake LBJ. This includes only single family or vacant lots that are on open water or cove and that fall in all price ranges. It is estimated that Austin’s regional population surpassed the 2 million mark which is less than .1% of Austin’s population alone. Considering that buyers for Lake LBJ real estate come from Austin, San Antonio, Dallas, Houston and other areas outside of Texas this means that Lake LBJ is very scarce compared to the potential demand.
I believe that Lake LBJ real estate will be untouchable in the next 3-5 years as prices will continue to rise based on available supply and demand. Good properties (good water) will sky rocket and will become nearly impossible for most to acquire. If you have ever considered buying a waterfront property on Lake LBJ, now is the time. The micro conditions of the economy (low oil) have created a small window of opportunity to buy right and the window will soon close.
Contact me today and allow me to share my passion for selling Lake LBJ real estate with you. Don’t let this opportunity pass you buy!