I bet it is like that all over Texas, not just Austin. Buyers making offers 100k to 300k over the asking price in Waco, Lubbock, Amarillo and Vidor.
Three years ago we bought a small condo in Houston for $67,000 cash. It is in an improving neighborhood near the International airport. We had an unsolicited offer for $100,000 last week, sight unseen.
Here, exactly 50% of our street was up for sale due to the high taxes and CA buying sight unseen at outlandish prices. These were homes were owned by family generations since the ‘50-60s. Many homes have been turned into weekend tourist rentals which brings in strangers and problems.
I used to know everyone and we’d have neighborhood fish fries but no more. Today, I’d barely recognize the next door neighbors in the middle of Walmart.