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

Austin MLS Trends » University Hills

East Austin Home Sales : University Hills