Redfin Report: Out-of-Towners Moving to Austin Spend $22,500 More on Homes Than Locals
The typical home purchased by out-of-towners in Austin sells for $470,000, versus $447,500 for locals.
- The typical home purchased by out-of-towners in Austin sells for $470,000, versus $447,500 for locals.
- Migrants also have higher down payments than locals, with a median of $111,500 versus $83,725 for locals.
- In Austin, the seventh most popular destination for Redfin.com users looking to relocate, the typical home sold for $485,000 in June.
- "People moving into Austin from out of town tend to come with a lot of cash from selling homes in expensive West Coast citiesespecially the Bay Area," said Austin Redfin agent Andrew Vallejo.