Apache Shores, an Austin area subdivision between Lakeway and Mansfield Dam, has seen significant change in recent years.  The transition really started a couple of years ago, but 2006 was telling in terms of the Apache Shores real estate market.

In 2006, 78 single-family (not mobile) homes sold.  The prices ranged from under $100,000 to over $1 million.  Here in the Austin area, we talk about home prices in price per square foot.  In 2006, the average price per foot for a home sold in Apache Shores was $124.97, with the average sold price being $213,294.    Of those, 26 were built in 2006 and they averaged $129.11 per square foot.

New homes have been more expensive to build lately because of the increase in the price of building material.  Concrete, copper, lumber and anything petroleum based all saw higher prices than previous years.  What I find particularly interesting is that the new home prices have pulled resale prices up.  Apache Shores homes built in 2004 or earlier averaged $121.80 per square foot in 2006.

Lots in Apache Shores have also gone up quite a bit in value.  In 2006, 97 lots sold.  The average sold price was  over $32,000.  The run-up in lot prices started in 2004 and 2005. If you go back to 2002, the average sold price of an Apache Shores lot was just $20,830.

 

So if you live own an Apache Shores home or lot and you bought in or before 2003, you may have seen significant appreciation.

 

The sales figures used in this post came from the Austin MLS.