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Residential Homes in Travis County Ranked High in Prices

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By : John Cutts    99 or more times read
A report issued by the U.S. Census Bureau showed that median prices of residential homes in Travis County, Texas are third highest in the state during the period 2005-2009. Based on the report, homes in the county had an average value of $191,700 during the period in focus. Travis, which is part of the Austin metro area, improved its home values from five years earlier.

Although there are huge supplies of Austin bank owned homes for sale that inevitably affect the values of properties in the area, the county was able to maintain a relatively healthy price range compared with other regions. Travis was bested by only two counties in the state, Kendall and Collin. Travis County's average home price for the period examined was an improvement from the 2000 average of $158,900.

The county of Kendall was best in terms of balancing the impact of Texas bank owned foreclosures on housing prices during the same period. The median value of houses in Kendall was pegged at $227,500 during the period, representing an increase from the 2000 average of $165,500. Meanwhile, Collin County recorded a median price of $197,400 during 2005-2009. This is higher than the 2000 median average of $188,800.

In Texas, the area that recorded the lowest average price for residential homes for the same period was Reeves. Median value of residential properties in the area was recorded at $29,400. The whole state of Texas posted the most number of counties and cities where median prices of houses were below $50,000. A total of 19 local areas in the state were under this category during the period covered by the Census.

Nationwide, the impact of bank REO property and foreclosures on housing values can be seen in most areas. However, although California is one of the top states in terms of foreclosure rates, the region did record the biggest number of counties with median housing values that are $500,000 or more.

For the whole U.S., the area with the highest housing median price was Nantucket in Massachusetts, with the median rate of residential homes pegged at $1 million. The Bureau report covered over 670,000 local destinations all around the country and is part of a nationwide survey focusing on social, housing, demographic and economic data beginning in 2000.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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