HOUSING & REAL ESTATE
2022 REAL ESTATE EDITION
Georgetown to add housing to keep up with population growth
PROJECTING POPULATION Population estimates provided by the U.S. Census Bureau help Georgetown in planning for future infrastructure and other housing needs. The chart below shows three possible growth scenarios for the city.
Georgetown’s population
BY HUNTER TERRELL
in Georgetown’s 2030 Plan that states the city’s main goal is to ensure access to diverse housing options for residents of all ages, backgrounds and income levels. However, as additional availability comes online and the population is projected to continue to grow—with estimates of a 21%-44% increase before 2030—home sales in the area have slowed. “The ups and downs we are seeing in our market are normal, and some- what expected considering the fast pace at which our market has moved over the past two years,” Cord Shi et, Austin Board of Realtors president, said in an April market report. “If you want to begin building equity through homeownership, or if there is a speci c area you want to live in, the time to plant your ag is now.” According to data from the Texas A&M Texas Real Estate Research Center, a total of 439 properties were sold in Georgetown from January to April 2022, which is 109 properties less than the same time last year. Williamson County residential sales also decreased 11.2% to 1,037 sales, according to ABoR data. During the same period, active listings rose 65.2% to 849 listings while pending sales dropped 10.2% to 1,154 pending sales, the report said. “We are starting to see some stability in our market,” ABoR Secre- tary-Treasurer Brandy Wuensch said. “The price of things are obviously still high, but this is also encouraging an increase in the resale market.”
April 1, 2020
67,176
Georgetown is the fastest-growing city in the U.S. for cities with a population above 50,000, according to data released May 26 by the U.S. Census Bureau. Census data shows Georgetown’s annual growth rate was 10.5%, resulting in a population estimate of 75,420 as of July 2021. “Georgetown continues to attract new residents for the same reasons many of us moved here—good jobs, safe neighborhoods, and unbeatable parks and events,” Mayor Josh Schroeder said in a release. “People don’t just move here; they fall in love with this town.” This is the second time in the past seven years that Georgetown has been ranked the fastest-growing city in the U.S., according to the city. The rst time was July 2015. Matching the growth in people is the number of residential develop- ments underway within city limits. According to the city, there have been a total of 1,945 permits sub- mitted for single-family residential neighborhood developments from October 2021 to May. During the previous scal year, which ran from October 2020 to September 2021, 2,520 single-family residential permits were submitted. Additionally, a total of 402 mul- tifamily units were added from October 2020 to September 2021. Adding both single-family and multifamily housing options is in line with the expectations outlined
July 1, 2021
75,420
Population projection scenarios
Scenario A
Scenario B
Scenario C
Assumes growth rate similar to Austin metro
Assumes growth rate similar to Williamson County
Assumes growth rate similar to the city of Georgetown
120,000
28.7% 44.4%
100,000
80,000
21.8%
60,000
20,000
0
SOURCES: CITY OF GEORGETOWN, TEXAS STATE DATA CENTER, U.S. CENSUS BUREAU COMMUNITY IMPACT NEWSPAPER 2022 2023 2024 2025 2026
2027 2028 2029 2030
BUILDING PLANS The Georgetown Planning Department keeps a record of all submitted permits including single-family residential developments. Single-family residential permits
FY 2020-21
2,520
FY 2021-22*
1,945
0
SOURCE: CITY OF GEORGETOWN COMMUNITY IMPACT NEWSPAPER *OCT. 2021 MAY 2022 NOT A FULL FISCAL YEAR
We’re Growing to Serve You Better SPECIALIZING IN SUN CITY & BEYOND Amanda Keeley • Christina Roberto • Cindy Kelly • Mary Ann Bevell • John Lister Allison Salmon • Monica Atherton • Phillis Forse • Judy Curtis • Dylan Scofield Charlotte Roberto • Sue Raguse • Judy Tansey • Kristen Bullard • Kimberli Turner
4853 Williams Drive, Bldg G Ste 107 Georgetown, TX 78633 512-887-7792
www.FreedomRealtyTexas.com
19
GEORGETOWN EDITION • JULY 2022
Powered by FlippingBook