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True, many of the listings that expired or were withdrawn were on the market at the end of last year, when sales were very sluggish across all of Austin.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

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

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