If You Live in Manor, Here's What You Need to Know About Apple Moving In
If you're like me, your first reaction might be, "Who cares that a big company is moving here?"
Fortunately, I've matured enough as a man to have a second reaction: "How will this impact me and those I care about?"
And as I've matured as a business owner, I've started to have the reaction of "How can this benefit my business?"
Regardless of where you stand on that spectrum, here's everything you'll need to know that's relevant to Apple's move into North Austin ....coupled with your residing/commuting in, to, and from Manor.
Firstly, this is nothing new for Austinites. Apple currently has it's second largest U.S. campus already here in North Austin and the hiring plans were actually announced back in January.
It's next campus will be right across the street from it's existing one. This will allow Apple to triple it's workforce capacity from 5,000 to 15,000, potentially quadruple to 20,000.
As much as people want to immediately jump on the topic and say the obvious most positive reactions ("Great - think about all the new jobs...") and negative reactions ("Damn, just more traffic & pollution in our city"),...consider this...
The city has already added 40,000 jobs to the city in 2018, so this may not impact the employment rate and traffic congestion as much as one might initially think.
The company also says that the campus will run on 100 percent renewable energy.
If your main commute each day utilizes I-35, US-183, and/or the SR-45 toll road, you may see the additional population traffic slightly impact your commute time, but not much considering the city added 4x that many jobs already this year.
If your major commuting routes are via the SR-130 toll road and US-290, this shouldn't have as much as an impact, if any, on your journey to and from Manor.
From a real estate perspective...
Right now, there are 76 homes available for sale within 3 miles of the current/proposed Apple campus, including these dozen new listings that just hit the market over the last week or so...
The median listing price for the seventy-six active homes in this 3 mile radius is currently $376,000.
For that specific area, that's only about 1.5 months of inventory if buyers continued to purchase at the same rate as they have for the last 90 days, since almost 160 homes sold this past quarter. That's not much inventory at all. The national average is 7.4 months of housing supply (Oct 2018).
I believe the incoming, relocated employees will still have some leverage however, even if there's not many homes to choose from, since the median sold price over the last 12 weeks in that same area is only $350,000.
What does this mean for Manor home owners? If 78750, 78759, 78727, and 78729 can't produce enough resale or new homes to meet the needs of incoming buyers, Manor might be one of the first few stops for newly relocated Applers - if they're traffic-conscious when choosing their new home.
No matter where you live in Austin right now, home prices are changing.
Meet the Authors: John & Lindsay Bonacci
With over 10 years in real estate, this duo specializes in getting the job done! With Lindsay (Platinum Top 500 agent) leading the buyer team to ensure Bonalife Homes is delivering outstanding service to buyer clients and John specializing in marketing homes to their highest level, you are in great hands. Come see why so many families CHOOSE US to get their real estate results.