Monthly Archives: December 2013

Austin Subdivision Spotlights

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market spotlight A list of  subdivisions in the greater Austin area and current real estate market data for them is featured below.  Active homes on the market are defined as units that do not have an accepted contract on them.    Active homes, as well as other data change constantly as houses in Austin enter and leave the market.   The data is subdivision specific and gives an overall snapshot of the price point and desire for that particular Austin market. There may be additional homes available for purchase in the general market area.

The data below is specific to single family homes.

Barton Hills (Zilker Park Area)

Number of Active Houses on the Market: 5

Average Days on Market: 39

Median List Price: $ 599,000

Circle C Ranch (Southwest Austin)

Number of Active Houses on the Market: 13

Average Days on Market: 38

Median List Price: $ 389,990

Hyde Park (Central Austin)

Number of Active Houses on the Market: 4

Average Days on Market: 91

Median List Price: $ 484,000

City of West Lake Hills

Number of Active Houses on the Market: 17

Average Days on Market: 129

Median List Price: $ 995,000

Shady Hollow (Southwest Austin)

Number of Active Houses on the Market: 7

Average Days on Market: 58

Median List Price: $ 344,900

Northwest Hills (North Central Austin)

Number of Active Houses on the Market: 7

Average Days on Market: 78

Median List Price: $ 729,000

Tarrytown (Central Austin)

Number of Active Houses on the Market: 13

Average Days on Market: 74

Median List Price: $ 970,000

Travis Heights (Central Austin)

Number of Active Houses on the Market: 6

Average Days on Market: 62

Median List Price: $ 774,475

Average Days on Market below 90 days are considered Seller’s markets, because homes are moving quickly. Neighborhoods with homes on the market between 3 and 6 months are considered neutral.

 

Holiday Season Home Inventory in Austin

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Once upon a time November and December were the months that home buyers slowed down and investors came out of hibernation. During the holiday season days are shorter, not only because of the amount of daylight hours, but because of the added tasks taken on this time of year. Shopping for presents, food, cleaning, parties and travel can add to the daily grind and often put the thought of buying a home on the back burner. Historically, with fewer buyers in the real estate market this time of year, inventory would tend to rise a bit because houses would tend to stay on the market longer than spring and summer. With a larger supply of homes available, prices would tend to fall and investors would enter the market to get a good deal or two.

Austin Home Sales

That was then, this is now. The Austin real estate inventory hasn’t really grown that much in the past month and in many select markets, it has only gone down which has pushed prices up. The home buyer that expected to be settled by now who had plans to host Thanksgiving dinner is still in the real estate market. Interest rates and home prices have gone up in the last 6 months, but inventory has not.

Inventory on Austin Investment Properties

The inventory of multiple family units, like duplexes, has not increased either. The buyer pool albeit is smaller, but the supply and demand is not any more level in that market which is leading to multiple offers, even for investors.

Keep the New Home Bug Alive during the Holidays

Do not cross that new home off your holiday wish list. Stay in the market at whatever level you can. It is a lot easier to find the time to see one or two houses a week you really might like, than to see 10 you really won’t, which is what happens when buyers start over. Buyers who bow out this time of year with too much to do will literally be starting from scratch in January along with a new crop of people with New Year’s resolutions to buy a new home.

Finding the perfect home is often about being in the right place, at the right time. If it’s meant to be while everyone else is at the mall, then so be it.