Austin MLS Trends » Austin Home Prices

Wells Branch Home Sales

MuellerRealtor — Thu, 17 Dec 2009 22:01:52 +0000

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.

North Central Austin Home Sale Data

admin — Thu, 21 May 2009 21:37:59 +0000

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.

East Austin Home Sales: University Hills

admin — Tue, 05 May 2009 15:55:58 +0000

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True, many of the listings that expired or were withdrawn were on the market at the end of last year, when sales were very sluggish across all of Austin.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

North Central Austin Home Sales: 78756

admin — Fri, 01 May 2009 20:40:05 +0000

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.

Are Austinites Moving?

admin — Wed, 22 Apr 2009 05:36:25 +0000

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:

North Austin Home Sales: Scofield Farms

MuellerRealtor — Mon, 06 Apr 2009 18:51:34 +0000

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.

East Austin Home Sales: University Hills

admin — Wed, 04 Mar 2009 03:08:15 +0000

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.

East Austin Home Prices: Mueller Airport

MuellerRealtor — Thu, 12 Feb 2009 20:45:50 +0000

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:

East Austin Home Sales : University Hills

MuellerRealtor — Thu, 12 Feb 2009 20:12:13 +0000

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.

Year To 2/2/2009	University Hills
Number of Sales	1
Average List Price	$178,682.00
Median List Price per Square Foot	$105.65
Active Listings (homes that are for sale)	30
Average Days on Market	90
Number currently under contract	4

Year	Sales YTD	Average List Price
2009	1	$178,682.00
2008	4	$181,600.00
2007	4	$180,934.00
2006	6	$149,440.00

House Price Distribution in Southwest Austin

MuellerRealtor — Fri, 06 Feb 2009 04:20:35 +0000

I chose a location in the heart of one of Austin’s fastest selling zipcodes – Dick Nichols park in 78749. This area had some of the shortest times on market anywhere in the US in 2008, so I wanted to check out the pricing distribution.

My method was simple – just look at 2008 sold data in the MLS for a an area within a 5 mile radius of the center of the park. The median sales price for this area in 2008 was $222, 750, with a high price of $3.4m.

This chart shows the price distribution:

As you can see, there are very few homes below the $100,000 mark, but that the largest home price band is aroun $180,000.

Useful resources: