Parts of Hyde Park have recently been designated as a Local Historic District, which means that permission is required to remodel the exterior, construct or demolish a home in that part of this central Austin neighborhood. This may impact pricing for homes in that area, and in this austin real estate blog post, we look at the broader Hyde Park area as covered by the Neighborhood Association.
The median price of sold houses in Hyde Park Austin that were listed for sale in 2010 was $300,000. Of 154 listings in the year:
- 50 were withdrawn
- 19 expired
- 59 sold
- 18 are still on the market
- 8 are currently under contract
What does this mean? Only 53% of home listings have sold in 2010, the rest remain unsold or have failed to sell. The average days on market for the homes that sold was a relatively healthy 56 days.
The average sales price to list price ratio for Hyde Park homes selling in less than 30 days was a little over 98% which is great, though some pricing was a little more optimistic on the parts of the sellers with homes selling in 31-60 days averaging a ratio of just 93%.
The diverse housing stock yielded sales prices of between $119/sqft and $332/sqft which is accounted for by the vast array of sizes and ages of home in the area.
It was a tough year for just under half of people wanting to sell in Hyde Park. Compared to 2009, 10% less homes sold and the median price of those sold was 9.1% lower in 2010. While this could simply be due to different houses selling last year due to the first time homebuyer tax credit, I think values have slid a little.
Get a market snapshot of the Hyde Park housing market, or search for homes for sale there.
{ 2 comments… read them below or add one }
So what is the average house selling for near the downtown 6th street of Austin.
I live in Houston and was just curious.
Is the housing market improved any for the
Austin area in 2011?
There really aren’t all that many houses near W 6th St – if we look at condos that sold within half a mile of 6th and Congress in 2010, they were selling for around $300/sqft. That’s the approximate value for the MLS Downtown Austin area too – expect a 2/1 condo 1100 sqft for around $345,000. The market in Austin is really taking off in 2011 in terms of low inventory. Prices will go up next is my guess.