Austin MLS Trends

Wells Branch Home Sales

Austin’s Wells Branch is a popular MUD in North Austin between MoPac and I35.

Here are a few statistics on 2009 home sales:

Median List Price: $169,900

Sales Price to List Price Ratio: 98.9%

Average List Price / sqft: $106

Average days on market: 44

Sold vs All Listings: 87%

As you can see, home sales are strong in this area which is great for first time homebuyers.

• Search for Wells Branch homes
• Snapshot of Wells Branch housing market

North Central Austin Home Sale Data

Austin’s MLS Area 4 includes Hyde Park and Patterson Heights. Here’s a run down of how many homes sell in each month (over the last 5 years). The graph charts the contract date (when the offer is accepted) for single family homes with a list price between $300,000 and $400,000.

Monthly Home Sales

The chart shows sales in 5 full years. As you can see, the most activity happens in March, April and May.

Conversely, there is typically less competition in other parts of the year.

• Search for Hyde Park homes
• Snapshot of Hyde Park housing market

East Austin Home Sales: University Hills

University Hills Austin Home Sales

Home sales in University Hills slowed with the rest of the Austin market at the end of 2008 as noted in a recent post. This is shown by the thin Q4 green slice left.

The first quarter of 2009 has also shown a drop in sales from previous years, as shown left. The blue slice shows that just 8 homes sold by April 1st this year.

Right now in Q2 we are in the peak selling season – see how the orange slice is generally largest in previous years.

Inventory is low right now, with 22 homes available with 8 under contract. Some lenders are taking longer to close loans right now, so assuming a closing time of 45 days from contract acceptance, this puts us at approximately

At the present rate this equates to around 4 months of inventory - technically a sellers’ market again.

University Hills Home Listings 2009

What the inventory analysis does not show is the discouragement of some sellers right now. The chart above shows that as many home sales failed this year (green and yellow) as succeeded (red).

True, many of the listings that expired or were withdrawn were on the market at the end of last year, when sales were very sluggish across all of Austin.

Given that market perception lags behind the market, the sellers who are on the market now will reap the rewards of low competition. There are relatively  few homes to choose between right now in University Hills.

• Search for University Hills homes
• Snapshot of University Hills housing market
• University Hills Real Estate Blog
• University Hills Neighborhood Newsletter

North Central Austin Home Sales: 78756

Austin MLS prices

Austin’s 78756 is a vibrant area containing the Rosewood neighborhood.

There are a number of historic, locally owned businesses on Burnet Road and Northloop whose iconic signs define the area.

There are condos and houses in the area in a vast swathe of pricing – from efficiency condos below $80,000 to houses about $700,000. There are also a few duplexes in the neighborhood.

The median sales price in the last 12 months for single family homes is $337,000, with an average price per square foot in 78756 of $221.

What is your chance of selling your home in 78756? That really depends on which Rosedale Realtor you use.

Statistically, more homes have failed to sell in 78756  than have successfully sold in the last 12 months. This is shown below.

Rosedale Home Sales Data

Looking at the amount of homes for sale in 78756 right now, there are around 6 months of inventory in the Austin MLS.

• Search for Rosedale homes
• Snapshot of Rosedale housing market

Are Austinites Moving?

Austin Home Occupancy

Home sales in Austin: Spring is happening to the real estate market, and buyers are back on the prowl for homes before the school holidays and the weather starts to get too warm to go home shopping.

Do homes sell better vacant or occupied?

A quick look at the active listings in Austin shows that 46.5% of the homes are vacant. 41.8% are occupied by the owner with the rest being occupied by tenants.

Whether your home will be easier to sell vacant or occupied depends on your situation, and is best answered by a real estate professional.

If close to half of all homes are vacant, where are all the owners? They could have relocated, or be new construction. Or they may simply have moved to a new home or into rental property.

Useful resources:

• What’s my Austin home value?
• see Austin TX Houses For Sale
  
• Contact an Austin Real Estate Agent

North Austin Home Sales: Scofield Farms

I just helped a buyer put together an offer for a home in Scofield Farms, 78727. Our offer was rejected without even a counter as the their market is a sellers’ market. Inventory in the price range we are looking in is not abundant.

There are 29 homes for sale, and at the time of writing there are 15 homes under contract. There is typically an acceleration in sales at this time of year, and at current inventory levels, there are only two months of inventory. This is a strong sellers’ market.

Homes are attracting strong offers

The chart above shows a very high list price to sales price ratio, and sellers taking advice will hold out for strong offers. The area has great amenities and is convenient for major employers.

• Search for Scofield Farms homes
• Snapshot of Scofield Farms market
• Austin Sellers Market Blog

East Austin Home Sales: University Hills

East Austin Sales

Homes in University Hills in East Austin saw an abrupt halt at the end of 2008.

The green slice on the left shows that few homes were sold, far lower than in previous years.

The market has more than 8 months of inventory right now, making it a buyers market.

• Search for University Hills homes
• Snapshot of University Hills housing market
• University Hills Real Estate Blog
• University Hills Neighborhood Newsletter

Homes in Cedar Park – Market Review

Annual Cedar Park Single Family House Sales

Cedar Park Homes: current inventory points towards a healthy market for single family homes.

Homes for sale: 426

Homes under contract: 114

Median List Price: $244,501

Average days on market: 86

If we look at sales over the last four years, we can see that the number of sales dropped in 2008 with more withdrawn listings. Median Sales price has increased and levelled out.

Cedar Park TX Homes Median Sales Price

Overall the market in Cedar Park has slowed. 50%  less homes sold in January 2009 than in January 2008.

More information:

• Search for Cedar Park, Texas homes
• Snapshot of Cedar Park housing market
• Cedar Park Homes

East Austin Home Prices: Mueller Airport

Homes at the Mueller Airport in Austin, TX have available since the end of 2007, with most residents moving in 2008 or later. To date, around 340 homes are occupied, with a total of 10,000 residents planned. Here’s the market stats for the market rates homes in Mueller to date:

Average # of bedrooms / bathrooms: 4/3

Average size of a home at Mueller:  2383 sqft

Average days on market for a house at Mueller : 95 days

Average list price: $419,678

Average list price to sales price for a home at Mueller: Please contact for details.

The affordable program at the Mueller Airport is not included in these statistics, nor the statistics for the town homes or condos that are available at Mueller Austin.

Some homes at Mueller aren’t available on the MLS. For example Standard Pacific Homes at Mueller only keep one of each of their available floorplans listed on the Austin MLS, while they have 7 in inventory.

Useful links:

• What’s my Mueller Austin Home Worth?
• See Mueller Airport Homes  For Sale
  
• Contact an Austin Real Estate Agent

East Austin Home Sales : University Hills

University Hills, Austin.  This relatively sleepy area of East Austin was the target of many property investors in 2006 and 2007. Homes were very low priced per square foot, and were larger than in surrounding areas like Windsor Park and Pecan Springs.

University Hills was a low turnover neighborhood in general – many residents were the first or second occupants of their homes built in the 1960s and 1970s. So the investors moved in and rehabs and remodels were a common part of the landscape during 2007 and 2008.

The real estate market has slowed in 2009 in line with much of the Austin market, with higher than average inventory and lower sales as can be seen in the tables below.

List prices are being pushed down, although the tax assessor has raised the value of the larger lots significantly – lots of 0.25-0.3 acres are not uncommon.

It’s a great time to buy in University Hills for a larger home near to the amenities at the Mueller Airport.

• Search for University Hills homes
• Snapshot of University Hills housing market
• University Hills Real Estate Blog
• University Hills Neighborhood Newsletter