Search results matching tag 'Austin market stats'

Circle C Ranch Real Estate Update – April 2013

95345 — Thu, 25 Apr 2013 18:57:00 GMT

There are currently just 12 homes for sale in Circle C Ranch. The most affordable is a 2,288 square foot priced at $299,000, or just under $131 per square foot. The most expensive Circle C home for sale is listed for $684,484, or almost $153 per square foot.

During the last 30 days Circle C had 13 homes sell. The average sold price was a bit over $376,000, which was almost $126 per square foot. Homes averaged just 26 days on the market before selling. In addition, there are 27 homes under contract at this time in Circle C.

During the same time period in 2012 Circle C had 16 home sales. The average sold price was $314,500, or $127.38 per square foot. The average days on market before selling was just 25 days.

For the same 30 days in 2011 there were 14 Circle C homes sold. They averaged$289,600, which was $116.16 per square foot. These homes averaged 25 days on the market.

As you can see, Circle C has been a hot market for a while. Prices have risen pretty dramatically and for the past several years homes in this southwest Austin neighborhood have sold very quickly.

That means that anyone serious about buying a Circle C home needs to be prepared to make an offer the day they find the right home.

Interest in Circle C homes? Call me at 512-293-2422.

Austin Real Estate Market Stats - February 2013

95345 — Tue, 12 Mar 2013 15:24:00 GMT

Sorry to be a bit late with this, but I’ve been on vacation. So how did Austin single-family homes stack up this February compared to a year ago? To start with, the Austin area currently has 5236 single-family homes for sale and 3618 under contract.

February, 2013 saw 1496 single-family homes sell in Austin. That is up by over 37% over February a year ago. The average sold price was $266,647, which was an increase of almost 4%. The average sold price per square foot was $118.89, an increase of over 6%. The median sold price was up 7.4%. The sold price per foot was $104, which was an increase of almost 7%. The average days on market before selling this February was 64 days, a decrease of 22% compared to a year earlier.

Other stats from the local Board of REALTORS include these: In January, 2013 we had only 2.5 months of inventory. January also had 25% fewer homes listed for sale and 25% more homes under contract compared to January of the previous year. Finally, January was the 20th month in a row of increased sales volume.

Impressive numbers! Will these trends continue through 2013? For now it sure looks like it.

Interested in Austin homes? Call me at 512-293-2422.

Austin Real Estate Market Statistics – November 2012

95345 — Tue, 04 Dec 2012 17:36:00 GMT

There are currently 6,046 single-family homes listed for sale in the Austin Multiple Listing System. They range in price from $$18,900 for a tiny tear-down in a rural area northeast of Austin to $15 million for a huge home overlooking Lake Travis. The average list price is $$451,902, which is $147.46 per square foot.

During November, 2012 the Austin area saw 1446 homes sell. The average sold price was $276,736, or $116.15 per square foot. Homes averaged 61 Days On Market before selling, which is quite good. The average sold price was $205,000, or $102.2 per square foot. Homes averaged 36 Days On Market, which is very good.

During the previous November our area saw 1,341 single-family homes sell. The sold for an average price of $261,991, or $110.92 per square foot. The medial sold price was $195,246, or $96.11 per square foot. Average Days On Market for these homes was 78.

So for this November we saw a 7.8% increase in the number of homes sold, our average sold price was up 5.6%, the median sold price was up 5% and average Days On Market dropped by 21.8%. By the way, we have 2,741 homes currently under contract.

So the trend continues for Austin – everything on the way up aside from how long it takes to sell a home.

Interested in Austin real estate? Call me at 512-293-2422.

October, 2012 Austin Real Estate Market Stats

95345 — Fri, 02 Nov 2012 18:48:00 GMT

As of today there are 6,569 single-family homes for sale in the Austin MLS. The range in price from $18,900 for a 400 square foot place in a little town northeast of Austin to $15 million for a home containing a little over 16,000 square feet of living space with a stunning view of Lake Travis. The average list price is a little over $455,000.

As for October, the Austin area saw 1,669 homes sell. The average price for a sold home was $283,643, or $118.55 per square foot, and the median price was $203,000, or $101.19 per square foot. Homes averaged 64 days on market before selling. There are also 2,782 homes currently under contract.

How does this compare to October of last year?

In October, 2011 our area saw 1,404 single-family homes sell. The average price for a sold home was $255,414, or $110.16 per square foot, and the median price was $192,000, or $95.49 per square foot. Homes averaged 79 days on market before selling.

So Austin saw an increase in home sales of just under 19% and an average price increase of over 11%. I’d say that makes our market pretty healthy!

Interested in homes in Austin? Call me at 512-293-2422

Lake Travis Real Estate Prices - Then and Now

95345 — Tue, 31 Mar 2009 22:22:00 GMT

A friend and associate at the Keller Williams Lake Travis office stood up at our sales meeting and held up some newspaper clippings. They had been used as packing material and were dated as having been published in 1993. What she read to us was from the real estate section. Take a look.

Austin homes starting in the $80,000s? Prices as low as $45 per square feet? Wow! I was here in Austin in 1993, but I had bought a home and was too busy as a Regional Operations Manager with Kinko's to pay attention to what was going on with home prices in other parts of Austin.

Year-to-date, there have been 6 homes sold in Cherry Creek that were built in 1993 or later. The average price was $200,417 The average sold price per foot was $102.38. So if you had bought a house in Cherry Creek in 1993 and sold it this year, you would have seen a 10% rate of appreciation per year. That's not bad!

So here is another interesting ad from 1993. Ridge Harbor is in Spicewood and it is close to an hour from the downtown Austin area. Back in 1993, it was really far out because the quality of roads into town kept things kind of slow. Homes back in 1993, according to this ad, were starting at$79,900. The most recent home sales in Ridge Harbor were averaging almost $400,000 for homes without lake frontage. The last lakefront home that sold went for just under $1 million.

Remember the 10% appreciation in Cherry Creek? If you had bought in Ridge Harbor in 1993 for $80,000 and sold this year for $400,000, you would have seen an increase in price of almost 27% per year. It is all about being near the lake. People wanting Lake Travis property often don't have a clue how property values have increased. This is an excellent example.

Austin Real Estate Prices - First 2 Months of 2009

95345 — Tue, 03 Mar 2009 19:37:00 GMT

I just pulled some stats for January and February to see how things have slowed in the Austin real estate market. These figures are for single-family homes, condos, townhomes and mobile homes and the numbers came directly from the MLS.

As you can see, January wasn't a good month, but it wasn't as bad as what we have read about other markets. The most dramatic number is the huge reduction homes sold. This was a result of having buyers pull back and not make offers in late November and December. It seemed like absolutely nothing was happening during those months and I think a lot of it had to do with people waiting to see election results. I also think that prices were down because of a lot of low-ball offers for those actually making offers at the end of the year.

Looking at February, things were down from the year before, but prices held up pretty well. This surprises me because of people selling higher priced homes for much less than what they wanted. My guess is that not enough of these homes sold to have much of a negative impact on prices.

Click to search Austin homes or call me at 512-293-2422 if you have questions.

Home Price Drop in Cities Hits Record

95345 — Thu, 29 Jan 2009 14:39:00 GMT

That was the headline of an article in the Statesman yesterday. Fortune Magazine published an article in the December, 1008 issue about the housing outlook for 2009. Both cited tremendous price decreases in housing in many cities. Was Austin included? No.

Home prices dropped over 18% across the country in November, 2008. Prices in November, 2008 were down in Phoenix by 33% compared to November, 2007. Las Vegas saw a drop of 32%, San Francisco saw a decline of 31%. The good news is that buyers are more active now. Sure, many are buying foreclosures, but at least the inventory of available homes is dropping. The country had a drop of almost 12% in December compared to November.

On to the Fortune outlook for 2009. Some highlights:

Phoenix is forecast to see home prices drop 18%. Denver will drop by 13%. Bakersfield will decline 21% The outlook for most of the west coast is similar. The Midwest is forecast to do better, but will still see drops from 7% in Chicago to 1% in Indianapolis. Florida will continue to take a hit with prices in Miami dropping by 23%, Orlando by 20% and the Tampa-St. Petersburg dropping 17%. The northeast will also take a hit. Boston is forecast to see home prices decline by 15%. Hartford will fall 13% and Philly will see a drop around 10%.

Is there a region doing well? Lets look at Texas. San Antonio is going to see a drop in home prices of almost 3%. Houston will decline around 2% thanks to lower oil prices and a softened demand. Austin will drop 2%. How about the Rio Grande Valley? McAllen is forecast to see an increase in home prices of almost 3%.

I'm not sure I agree with the forecast for Austin, but I hope it is right. December saw a decline of 4% and so far January isn't looking too good so far. However, while sales are slow and prices are dropping, I have a feeling that the second half of the year may see sales and prices stabilize and then pick up. So averaging things through the year may take us back closer to the Fortune forecast.

Comments? Questions? Call me at 512-293-2422. Click to Search Austin Homes.

Latest Austin Real Estate Market Stats

95345 — Wed, 08 Oct 2008 19:11:00 GMT

I've been waiting and waiting for this time of year to get here. No, not football season, although I am thrilled that it is here. Right now is when the door really got slammed on buyers who could not qualify. This is the time that lenders put the huge squeeze on borrowers. Now that September and October are here we will see stats at a time that the market conditions were actually the same as 12 months ago. Finally we can compare apples to apples.

Austin has seen prices rise or remain flat for the until September. Read on and look at stats from our friends at Alamo Title Co.

Units for Sale:
Sept. 28 - Oct. 4, 2008
(compared to the same week in 2007)
New listings down this week 20.06%
Pendings down 22.65%
Solds up 56.03%
As for Average Prices:
Sept. 28 - Oct 4, 2008
Sold average sales prices decreased 4.66% to $244,418. In 2007 it was $256,360 for the same week.

September 2008
Units for Sale: (compared to September 2007)
New listings were down 6.23%.
Pendings were down 3.94%.
Solds increased by 7.37%.

As for Average Prices:

The "New Listings" average list price is down 0.11% to 322,116. In September 2007 the average list price was $322,466.
Sold average sales prices decreased 5.52% to $242,215. For September 2007 it was $256,360.

Did you know that we had 11,323 active listings during the same week in 2007? Today there is 11,863 active listings! That is a 4.77% increase from last year.

So what are we seeing here? First, I want to see October results to see if this will be a trend, but what we are seeing is a pick-up in home sales and a decrease in prices.

My comments: I really want to see October stats when they come out to see if this is a blip or the beginning of a trend. But what this data tells us is that more homes are selling and prices are dropping. We're also seeing a drop in the number of new listings. I suspect that over the next few months we may see a decrease in the number of Active listings.

For one thing, builders aren't starting a bunch of specs and they are dumping existing inventory. This should lead to a reduction in the number of listings as the new stuff gets sold off. The incredible deals builders have been offering should help force prices down. The excessive amount of inventory, especially of high-end homes in places like the Lake South area of the MLS will cause a few things. First, a huge number of these homes that haven't sold are either up for lease or have been leased. This should start a slight drop in available supply. Second, some of these builders are taking a hit when selling, causing a drop in prices in the higher price ranges.

Of course in this time of incredible uncertainty with the economy, it is anybody's guess what will happen with housing as well as other sectors of the economy. Austin, as much of Texas, is very strong economically, but we can't keep up good numbers if the nation or globe fall into a deep recession.

Richard from Cedar City left a comment on an earlier post about people waiting to buy to see if prices will drop more. That is always a gamble. Money is available for people with good jibs, good credit and money in the bank. Interest rates are still pretty darned low. Some sellers who must sell, as opposed to those who want to sell, are pricing aggressively and this could result in good deals. If you are an Austin home buyer, I would keep my eyes open and strike when a great deal presents itself.

Austin Home Prices Fall? Not So Sure...

95345 — Tue, 02 Sep 2008 20:48:00 GMT

CORRECTION on 9/8/2008: I usually just copy and paste these stats without questioning them and obviously missed something. I want to thank commenters jcn and Charlie Pitkin for pointing it out. I just got an email from Alamo Title saying that there was a typo. The average price of a home sold in Austin in August actually rose almost 8%. The original post indicated that prices fell. For any of you who saw the incorrect data, my apologies. The data that follows has been corrected.

I got the latest weekly email Austin real estate market statistics from Alamo Title Co. and saw this:

August 2008

Units for Sale: (compared to August 2007)
New listings were down 18.87%.
Pendings were down 21.28%.
Solds decreased by 23.21%.

As for Average Prices:

The "New Listings" average list price is up 3.90% to 312,594. In August 2007 the average list price was $300,849.

Sold average sales prices increased 7.95% to $276,954. For August 2007 it was $256,553.

Did you know
That we had 11,103 active listings during the same week in 2007? Today there is 12,647 active listings! That is a 13.91% increase from last year.

My comments: I have a feeling that prices actually increased in August. The trend in Austin has been very slight appreciation over the last few months. If we really did see prices jump by almost 8%, that is a really good reason for people who are on the fence to buy before another rise and while interest rates are still relatively low.

Comments? Questions? Call me at 512-293-2422. Click to Search Austin Homes.

2008 Austin-Round Rock Real Estate Market Overview

95345 — Tue, 01 Jul 2008 19:58:00 GMT

The Real Estate Center at Texas A&M came out with its 2008 Market Overview for major metro areas in Texas. This is for the Austin MSA, which includes Bastrop, Caldwell, Hays, Travis and Williamson Counties. Cities included are Austin, Cedar Park, Georgetown, Leander, Lockhart, Pflugerville, Round Rock, San Marcos and Taylor. Some highlights:

2007 population estimate was 1,598,161, up 5.6% from 2006. Population growth from 1997 to 2007 is estimated to be 43.8%. The area's population is expected to exceed 2 million at some point between 2020 and 2025.

26.1% of the population of Travis County residents ages 25 and older have at least a Bachelors Degree. That compares to a statewide average of 15.6%.

The University of Texas at Austin had an enrollment in 2007 of 50,170. That's a huge student body!

The state of Texas employed almost 66,000 people in 2007. The largest private employer was Dell with approximately 17,000 employees.

Employment growth in 2007 was 5.6% while unemployment was just 3.6% That compares to 3.0% and 4.3% for the state of Texas. Overall the numbers are very strong both for the Austin MSA and the state.

Austin Bergstrom International Airport saw an increase in passengers in 2007 of over 625,000.

There is much, much more information to look through. To see the Austin-Round Rock Overview, click here. For other Texas markets, click here.

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