The median sale price of a single-family home in Austin was $407,400 in May—up 5.8% year over year, according to the Austin Board of Realtors. However, it is not just the residential housing market that is changing in the city. Here are six Central Austin trends to watch in 2019. Builders divide office space into separate classes: Class A is a premier space and Class B is more functional space. In East Austin, an increase in Class A square footage over the course of the last year has driven an increase in rent prices. Source: JLL/Community Impact Newspaper.
- Office rent prices on the rise in Austin as new buildings open on the East side According to reports from commercial real estate firm JLL, average rents asked by landlords for office space across the city of Austin are up to $45.22 per square foot in the first quarter of 2019, up from $37.85 per square foot at the same time last year. Click to read more at www.communityimpact.com.