Room to Run on Lake LBJ
Over the last few months we have seen record prices and number of transactions in the Lake LBJ Real Estate market. Overall demand increased significantly over the last few years as people moved to Texas in droves and COVID-19 gave people a real reason to secure a spot outside of the city. As inventory continues to dwindle down to extremely low levels prices are surely on the rise. I was recently made aware of a sale on Lake Austin in which this small boat dock in rough shape (pictured below) just sold for over $1,000,000. No house, no yard, just a spot to build a new dock.
If you consider what you can get for $1m on Lake LBJ it sure makes our market look cheap. For this reason and the fact that there are so many eyes on Lake LBJ I believe prices have the chance to really run in the near and long term. We are already experiencing multiple offer situations and I have heard of property owners receiving unsolicited offers to sale. This is a very hot market. If you are looking for a empty lot to build, Good Luck as they are few and far between. Many buyers are realizing that you may need to tear down an old house to get that perfect spot.
If you are considering buying or selling under the current market conditions make sure you are represented by the an experienced broker that knows the local market. This ain’t no mama’s boy picnic. Call me at (512) 786-1515 if I can be of assistance.