I don’t put altogether too much stock in Zillow for Texas home values as the source data they need isn’t available to them (non-disclosure state means sales prices are hidden from companies like theirs). However, looking at list prices, you can see a dip in the University Hills market which corresponded with a huge amount of foreclosures and distressed homes hitting the MLS.
Right now, only one out of 28 active or pending listings is foreclosed, and the market is balanced with 7 homes under contract and 21 available. We’re even seeing some of the foreclosed sales from the summer coming back renovated and in tip top shape.
Mueller Austin TX Control Tower
Mueller Austin is heavily featured in any list of green neighborhoods – it was the first neighborhood that was designated as a LEED Silver Certified Plan from the U.S. Green Building Council (USGBC). Not only are the homes built to an energy efficient rating scheme (Austin Energy’s Green Building Program), but the way the neighborhood is designed as a walkable mixed use community is considered and sustainable. The fact that it’s less than 3 miles to downtown is a factor, as are the extensive green spaces and commitment in the commercial buildings to LEED certification.
What does this mean for the homes sold there? The neighborhood gets a great deal of attention, and the 140 acres of parks and trails attract a great many visitors, so the grapevine for home sales is often abuzz.
The market is still in the middle of a construction boom – David Weekley and Standard Pacific are still working on production homes, in addition to larger custom homes. Greenway Lofts is selling the last of it’s low-rise condo building too. Not all of these homes are listed on the Austin Multiple Listing System – in fact most aren’t. Of the homes that were in the MLS, here are the statistics year to date for 2011:
- The median sales price including condos and the income-qualified affordable homes is $364,225
- The median sales price without affordable homes is $374,225
- The average sales price without affordable homes is $393,557
- Average days on market is 51 days (market rate homes)
- Sales prices are as high as $679,000
- List prices are as high as $899,000
- 14 homes have sold, 3 are under contract and 9 are active (market rate)
- 3 homes have been withdrawn from the market, of which 2 have been re-listed with other agents and one of these has sold.
Overall the market remains balanced with around 3 months of market rate home inventory.
You can check out Mueller Homes For Saleand get an updated analysis of the
Mueller Housing Market