The Austin area real estate market is hot. We all know this. Some areas have been leading the way lately. Others have been hot for a long time and appear to be cooling off - though that has more to do with a shortage of homes to sell than anything else.
Kind of like the way a fast car accelerates less as it approaches top speed. It's hardly slowing down!
One area that seems to be in the heart of it's horsepower curve, so to speak, is area 1A.
20 homes sold in Feb 2013 - 34 sold in Feb 2014. Average price up almost 42%!
Note that this doesn't mean your home did exactly the same. We don't sell the same homes every February. There is always a variance due to who decided to move in any specific month.
Still it seems safe to say that the area is in a peak time when there are still plenty of people willing to both buy and sell.
Soon we may find a greater shortage of homes to sell and fewer sales. But the unmet demand will likely push prices even higher.
Want to know more about the value of your home? Or the trends in the area you'd prefer to call home? Just give me a call or email.
Thanks to Gracy Title for assembling these statistics.
While it is great to have a big picture overview of the market as a whole, it can be more important to understand the market where you live. Or want to live.
If you are thinking about a real estate decision - Buying, Selling, Refinancing, Remodeling, even wondering what value to insure your home..
Please give me a call or email so I can help you.
Have a great month!
Great Hills Real Estate...
Things are still moving well in Great Hills. A quick look at today's MLS figures shows 17 homes for sale with average 2,588 sqft asking $475,291 or $180/sqft at 37 days on the market.
Those under contract include 11 homes averaging 2,881 sqft at $498,845 or $175/sqft at 14 days on the market.
In the past 90 days 29 home sales have closed average values 2,593 sqft, $449,750 or $174/sqft at 24 days on the market.
It pays to remember that figures like sqft are usually obtained from the county tax office and based on their wild guess from a moving vehicle. OK, maybe sometimes they stop the truck. Still, you have to know the homes and not just use statistics to understand your home's value. That's what I'm here for!
If you have questions about Great Hills, please contact me. Happy Thanksgiving!
Real estate artist