Zip Code 78750 Snapshot for June 2014:
Available Residential - 115 units
New Listings - 56
Sales Closed in June - 41 (contracts mostly from previous months)
Median Price of Sales Closed - $360,000
Median Days on the Market - 5
Just another example of an area of Austin that is selling like mad. How does this compare with your neighborhood? Contact me and I'll let you know.
Hope you're having a great month!
Quick update on Cedar Park for May 2014
The month averaged 500 Available homes for sale. (This number may even be inflated a bit by a couple of condo projects starting construction.)
Closed Sales = 156 (Sales mostly from prior months that closed in May.)
Median Price = $271,000 (Half of the sales were above, half below.)
Median Days On Market = 7 !!!
The takeaway here is that half of the homes listed will sell in about a week or less. Buyers need to be more than casually pre-approved. I am asking buyers' agents for pre-approval letters of course. I am also asking how many loans the mortgage broker has closed with the buyer's agent in the past few months and if documents were delivered on time. Unless it is a mortgage officer I know and trust.
We want to see that everything has been verified and approved by an underwriter.
Better yet - have cash!
There are a few more ways to help your offer be the one accepted. Of course, that's the teaser! If you know someone needing my help, please call me to set up an introduction.
Other zip codes? About half of them have single-digit median days on the market right now.
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!
If you heard reports that the housing market is still strong here in Central Texas - you heard right!
We continue to outpace last year and most years past. Inventory is really low and turning very quickly.
If you imagine a sprinter "patiently" waiting in the starting blocks, that's the way a lot of home buyers feel. Wait for a good house, the GO!
Even so (perhaps more so) it is important to hit the market right. We help people get their homes ready to make a big impression right away and attract the highest and best offers.
If you know someone thinking about moving, please introduce us today.
Have a great weekend!
Mesa Park in North Austin Real Estate...
Mesa Park has long been seen as a more affordable area of close-in Arboretum area homes. A quick look at today's MLS figures shows just 4 homes for sale with average 1,415 sqft asking $252,868 or $178/sqft at 52 days on the market.
Those under contract include 3 homes averaging 1,250 sqft at 226,279 or $182/sqft at 71 days on the market.
In the past 90 days 8 home sales have closed average values 1,363 sqft, $234,650 or $176/sqft at 56 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 the back of a rampaging armadillo.
If you have questions about Mesa Park or other Austin-area neighborhoods, please contact me.
Today let's have a look at Balcones including the "new" side 30+ years ago - Spicewood.
Currently there are 3 homes for sale, averaging 3401 sqft* asking $486,267 or $146/sqft*, and 109 days on the market.
Under Contract we find 7 homes averaging 2990 sqft* asking $315,852 or $155/sqft* at 35 days on the market.
Sold in the past 90 days - 21 homes averaging 2684 sqft* asking $413,490 or $154/sqft* at 36 days to sell.
Can we assume where the market is heading since the current $/sqft* is below the contract and sold homes? No. This is an older neighborhood with many homes remodeled or updated to varying degrees. It takes a much closer look to understand exactly what is happening at any one moment. Knowing the neighborhood for 40+ (Yikes!) years helps so long as I also diligently do my homework to be sure I am setting a value based on where a specific home fits the current, ever-changing market. Experience is a good thing! (I keep saying that more and more as I get older.) Re-researching is just as important.
So if you have a home to sell in Balcones or Spicewood, please let me look closely at where your property fits into the current market. Then if we decide to move forward, I'll take beautiful photos and make sure every potential buyer has an easy time finding and being attracted to come see your house.
Beautiful Photos Sell Beautiful Homes!™
August 2013 Statistics
Sales continue to pace well ahead of 2012.
Both average and median values and volume continue to increase as the Austin area completes recovery and continues historic growth pattern.
Thanks to Gracy Title for compiling this report.
Of course, general statistics are helpful but they do not tell you what your home is worth.
If you have questions about your home's value, please give John a call at 512-219-Sold.