Apache Shores New Homes
Apache Shores is an eclectic community near the main basin of Lake Travis. It is outside the city limits of Austin and Lakeway and because of that Apache Shores is less restrictive than the cities.
A few years ago, before the economy collapsed, new homes in Apache Shores were getting pretty expensive compared to earlier years. In 2007 and 2008, new homes in Apache Shores were averaging just under 1900 square feet and were selling for an average price of a little over $265,000, which was a little over $140 per square foot. That was an increase over the previous year or two.
There were several factors contributing to higher costs for new homes in Apache Shores. One factor was the topography of lots. Most of the somewhat level lots had already been built on. Subsequently, the sloping lots that were left were simply more expensive to build on. Another factor was that builders were building with nicer finish-outs. Granite counters, nicer lighting, door and bathroom fixtures were being put in. Builders and listing agents were seeing new homes sell at higher prices and they got more aggressive in building more expensive homes.
When gas prices got to close to $4.00 per gallon, Apache Shores felt too far away from Austin for many buyers. When the economy collapsed, many people simply were not buying. If they were, they were buying in less expensive areas that were closer to Austin. Apache Shores home sales slowed dramatically. Builders were sitting on an inventory of lots and new homes that just were not selling.
There has been only one new home sold in Apache Shores that was built in 2009 or later. It was a 1250 square foot home with a nice finish-out, but no garage on a small lot. The home sold for $172,000. That was a great deal less than new homes had been selling for in Apache Shores. When you look for new construction in Apache Shores today, you find four relatively small to-be-built homes listed for sale and all are for under $200,000.
Including these 4 homes, there are currently 50 single-family homes listed for sale in Apache Shores not including those for sale by owner and the average asking price is over $280,000. These 4 to be built homes may be very attractive to buyers because is is next to impossible to get into a new home within the Lake Travis ISD for under $200,000, especially as close to everything as Apache Shores is.
In case you are wondering about utilities in Apache Shores, the City of Austin provides electricity, trash and recycling services and water is available from Travis County WCID 17.