Homebuilders target Georgetown’s booming housing market
GEORGETOWN – With about 12 people a day moving to Georgetown, according to data released by the U.S. Census Bureau in May, City of Georgetown planning officials said they expect to continue to see a high demand for homes.
Since 2009 Georgetown home sales have more than doubled, and home sales were up more than 25 percent year-over-year in May 2016, Austin Board of Realtors President Aaron Farmer said.
The increasing demand has also led to rising home prices, Farmer said.
The median sale price for a single-family home in Williamson County was up 5 percent to $261,822 in May 2016 compared with May 2015.
The city has seen an increase in the number of new housing starts this year as developers and homebuilders look to keep up with the increasing demand.
In 2015 more than 1,000 residential lots were platted in the city and construction had started on nearly 750 homes, according to city permits.
As of July 6, the city has issued 598 new residential building permits in the city limits and extraterritorial jurisdiction in 2016.
According to city data, more than 1,700 lots are under construction, and an additional 15,000 are in the planning stages.
With about 12 people a day moving to Georgetown, according to data released by the U.S. Census Bureau in May, city of Georgetown planning officials said they expect to continue to see a high demand for homes.