Apache shores continues to gain strength in terms of real estate prices.  Through March 5, 2007 there have been 8 new homes that have sold.  The average price has been $225,484 and the average price per square foot has been $135.72.  By new, I am referring to any house with a year built date of 2006 or later.  For the same time period in 2006 only 6 new homes were sold.  The average price was $186,625 and the average price per square foot was $117.98.  I would call this pretty good appreciation.

For resale homes, meaning homes built prior to 2006, there have been only 4 Apache Shores homes sold so far this year.  The average price was $207,043 and the average price per square foot was $139.31.  For the same time period a year earlier, 6 resale homes sold in Apache Shores. The average price was $175,916and the average price per square foot was $101.20. 

Some of the higher prices for new homes area a result of higher lot costs.  Inventory has dropped and many lots are also difficult to build on because of the very hilly terrain.  So far in 2007 there have been 9 lots that have sold in Apache Shores.  The average price has been $67,250.  That compares to 7 Apache Shores lots sold during the same period last year with an average price of $20,714.  The combination of higher lot cost and difficulty of the build contribute to higher new home prices.

 

Although this is a relatively small sample size, this is a good reflection of what is going on in the Apache Shores real estate market.  Apache Shores is close to Lake Travis, is served by great Lake Travis ISD schools and really isn’t that far from Austin.  With the average price of a house in the Lake South Area of the Austin MLS being over $400,000, Apache Shores is still pretty affordable.  This makes it popular for yet another reason.