Texas Real Estate

Home Sales 21 Real Estate Prices

According to recent preliminary figures from the National Association of Realtors (NAR), as of the third quarter of 2004, home prices in the Austin/San Marcos area decreased slightly from $158,800 (second quarter 2004) to $158,700, still the highest among reporting metropolitan areas in Texas.

Following Austin was Dallas with a median sales price of $140,300 and Houston with a median sales price of $137,500. Between the third quarters of 2003 and 2004, Corpus Christi had the largest increase (eight percent) in median sales price, followed by San Antonio with an increase of four percent.

The median sales prices for existing single-family homes in Texas metropolitan areas tabulated by NAR fell below the United States southern region’s average of $170,300 for the second quarter of 2004. Downtown vacancy rates in the Austin and Houston markets increased from the third quarter of 2003 to the third quarter of 2004.

Suburban vacancy rates remained fairly steady during this period in Dallas/Fort Worth and Houston while industrial vacancy rates fluctuated in all three markets. With the exception of suburban Dallas/Fort Worth and industrial Houston, vacancy rates fell in all three metros from the second quarter of 2004 to the third quarter of 2004.

Q: I’m new to Texas… what do I need to do in order to get a Texas driver license?

A: New residents moving into Texas who have a valid driver license from another state, have 30 days after entry into the state to secure a Texas driver license. In addition to testing, all first time original applicants must visit a Texas Driver License office and present the required identification. For more information, see the Texas Department of Public Safety Website.

About Texas

  • Nickname: Lone Star State
  • Capital: Austin
  • Population: 20,851,820 (2000 Census)
  • The 28th State in the Union: Dec. 29, 1845
  • Motto: Friendship
  • Flower: Bluebonnet
  • Bird: Mockingbird
  • Tree: Pecan
  • Gemstone: Blue Topaz
  • Song: Texas, Our Texas
  • Origin of Name: From a Native American word meaning “Friends”

Q: How large is the economy of the State of Texas?

A: If Texas were a nation, its economy would rank as the eighth largest in the world. The Texas gross state product (GSP) is forecast by the Comptroller of Public Accounts to reach $924.55 billion (in current dollars) in 2005.

Texas Trade

In 2004, for the third year in a row, Texas was ranked as the number one state by export revenues. Texas exports for 2004 totaled $117.2 billion, which is $18.3 billion more than 2003 and represents an 18.6 percent increase. Recent Texas exports information indicate strong increases in exports in 2004, with a slight leveling off at year’s end. The state’s top value-added Texas exports in 2004 were Computer & Electronic Products, Chemicals, Machinery (not electrical), Transportation Equipment, and Petroleum & Coal Products.

Texas Personal Income

Metropolitan per capita income varies considerably across the state. Texas’ two largest metro areas, Dallas and Houston, have large concentrations of jobs in financial and business services as well as high-paying manufacturing jobs in electronics, motor vehicles, chemicals, machinery and aerospace. These two metropolitan areas have the highest per capita incomes of any of the state’s metropolitan areas.