In February 2017, Forbes released a list of the top 20 fastest-growing real estate markets in the world.
At the time, Austin was ranked No. 3.
Today, Austin is No. 4 and the Austin Real Estate Association has added it to the list.
The top spot goes to Toronto, which ranked No 3, followed by New York City.
The average price of a home sold in Austin increased by more than 8 percent over the past year, the magazine reported.
It was also one of the fastest-selling markets in Texas, where prices rose 8.9 percent in 2016, the most in the state.
In 2017, a record number of Texans moved to the Austin area, according to the U.S. Census Bureau.
According to the census, the region saw a growth of 1.6 percent from 2016 to 2017, and a 2.2 percent increase from 2017 to 2018.
Austin also has a population of more than 9.2 million, a majority of which are white.
A number of the most recent developments in the Austin real estate scene include a hotel and a high-end apartment complex called The City at 705 W. Fairmont.
The City has been under construction for more than 10 years, but it’s finally scheduled to open in 2019.