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.
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!
Here are some quick marker statistics for the past 30 days in Twin Creeks, a golf course community in Cedar Park near Lake Travis.
There are 16 homes listed for sale in the MLS including six new construction homes. Not all new home inventory is included in the MLS. The average price is $441,327 at 3089 sqft* for a calculated average $144.17/sqft.
For the three homes shown under contract the average price is $368,300 at 3046 sqft* and $120.92/sqft.
Those sold in the past 90 days include 19 homes ranging from $270-595k with an average sold price of $388,548 at 3115 average sqft* $125.70/sqft. These sales averaged 39 days on the market before going under contract with 5 of these under a week on the market and 4 over 60 days. Only one new home sale reported as closed, which is likely lower than reality.
If you know someone wondering about home values in Twin Creeks, or other Austin area neighborhoods, please tell them about me. I am happy