Austin Texas 2015 Update: 2014 was another banner year in central Texas housing markets. The uptick in housing prices in the Austin and surrounding areas was unprecedented. The extreme shortage of inventory in the “affordable” near-town residences continues, with no real change on the horizon. Median sold price for all areas combined in December is up to $244,950. While the $400,000+ close-in property values seem to be slowing a tad, the suburban affordable $300,000- property values continue to rise…and the lack of inventory in all market segments make it difficult to obtain a choice home without fighting “multiple offers” and higher than list price bids.Density continues to increase downtown and there are still more units coming. The desire to cut driving, be close (walking distance) to cool destinations, is the current trend. Our traffic situation remains bizarrely tangled. Hang in there!!!