Austin real estate isn't as bat-shit insane as SF, but what I'm seeing is that there are people who are paying $10k over the asking price. And that is severely distorting the market.
Agreed that Austin isn't as "hit-driven" as SF is. Talent here is more diverse on an individual basis than other tech towns.
As a comparison though, people are paying 100K over asking without blinking in South Bay for already overpriced real estate in the last 2 months. I've even seen bidding up of rental prices in the last month. 10K sound pretty good in comparison.
Agreed that Austin isn't as "hit-driven" as SF is. Talent here is more diverse on an individual basis than other tech towns.