Austin (at least certain parts) and price per square foot doesn't make sense to me anymore. It's all about the dirt, not the improvements, for many parts of town.
I had a divorce case a few years back, before the real estate prices went truly bonkers, and were only plain ridiculous. My client (Husband) bought a >1,000 sq/ft POS in 78704 in late 90s for ball park of $100K, got married in early 2000s, added on and remodeled the house to be about 1500 sq/ft with construction costs of about $100K after they got pregnant, and sold around 2010 for about $500K, and used the proceeds to buy their next house. Wife wanted all the appreciation from the sale to be community property, but we were able to successfully argue that all the value was the land (which was his separate property), not the improvements (which were community property), and Judge agreed. We had to have experts and put on a lot of evidence, but it was for sure the right call - in fact, I'm pretty sure that even with the recent improvements the new owner scraped the lot and rebuilt something else, so the value was almost certainly all in the land.