Apache Shores is a neighborhood I like to keep an eye on because that is where I live.  A few years ago Apache Shores was on fire.  Homes and lots were selling like crazy and prices were going up.  The price of new homes went from around $110 per square foot into the $135 and $150 per foot range.  Interior finish-outs were much nicer with granite and nicer fixtures.  Then the economy went south and everything slowed down.

So far this year, only 7 lots have sold in Apache Shores. There are currently over 80 lots for sale in the Austin MLS in Apache Shores.  That's what I call slow.  The main buyers of lots had been builders, but as builders have too much inventory and are also sitting on unsold homes, most aren't in the buying mode.  There have been 58 lots in the MLS this year that have had listings withdrawn or expired.

Home sales have been slow, but not terrible.  So far there have been 31 homes sold in Apache Shores this year.  Of those, only 8 were built in 2008 and none built in 2009 have sold via the MLS.  When I took out one of the homes as it was sold unfinished, I found that the average price per foot of a new home that sold was a little over $143 per square foot.  Of the resale homes that sold, the average selling price per foot was $131.58, which is better than I had expected to see.  For the first few months of 2007 the average price per foot for a home sold in Apache Shores was just under $136 per foot.  Fewer homes are selling and they are taking longer to sell, but value is holding surprisingly well.

Click to read more about Apache Shores real estate and to see active listings in the neighborhood.  Questions?  Call me at 512-293-2422.   Also, if you are a seller and want to find a way to see your home quickly, click HERE.