These two graphs should help you understand the current dynamics of house sales exclusive to Stone Canyon and Fern Bluff.
Average Sales Price continues on an upward trend due to some very high prices achieved through the summer month and because the area was underpriced. However, note that the months of inventory is going up quickly. This is because the market is putting some downward pressure on price due to increased competition from surrounding communities.
So the area prices have finally corrected and now the market has reached stabilization as seen by the active listings and days to sell lines flattening out
AUSTIN, Texas – September 19, 2013 – According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS® (ABoR), the Austin housing market in August experienced the most home sales to date for the month of August and sales volume is now twice the size it was in August 2010.
According to the report, 3,082 single-family homes were sold in the Austin area, which is 30 percent more than August 2012. This is more than double the home sales figures in 2010, during which only 1,490 homes sold in August that year.
Cathy Coneway, 2013 President of the Austin Board of REALTORS® said, “It’s not surprising that the Austin-area housing market has doubled in size in only three years. As our city continues to grow at an accelerating pace, it’s vital that our community and business leaders work together to address key issues that will continue Austin’s success and sustain our quality of life.”
On average, homes spent 43 days on the market, which is a decrease of 19 days from one year prior. Additionally, the market featured 2.8 months of inventory in August 2013, which is 1.2 months less than August 2012.
In August 2013, the median price for Austin-area homes increased to $224,000, which is six percent more than the same month in 2012. The total dollar volume of single-family properties sold was $883,147,100, or 36 percent higher than the same month last year.
The market also featured 16 percent more new listings, 16 percent fewer active listings and 9 percent more pending sales in August 2013 compared to the prior year.
“The continued growth of the Austin housing market is phenomenal, but we must ensure that all members our community can benefit from that growth,” Coneway said. “Components such as housing affordability, a healthy housing supply and strict property code enforcement will bring a continued success to our community in which all Austinites can take part.”
The following sections describe trends in other sectors of the Austin real estate market.
Townhouses & Condominiums The number of townhouses and condominiums (condos) purchased in the Austin area in August 2013 was 361, which is 32 percent more than August 2012. In the same time period, the median price for condos was $193,700, which is 14 percent more than the same month of the prior year. When compared to August 2012, these properties spent 37 percent less time on the market, or an average of 40 days.
Leasing In August 2013, a total of 2,149 properties were leased in Austin, which is 10 percent more than August 2012. The median price for Austin-area leases was $1,400, which is four percent more than the same month of the prior year.
The Austin Board of REALTORS® (ABoR) is a non-profit, voluntary organization dedicated to educating and supporting Central Texas REALTORS®. ABoR proudly serves more than 9,000 members, promotes private property rights, and provides accurate, comprehensive property listing information for the Greater Austin area.
Home sales statistics are released by ABoR on a monthly basis. For more information, please contact the ABoR Marketing Department at email@example.com or 512-454-7636. Visit AustinHomeSearch.com, a public resource on Austin real estate, for the latest news on the local housing market.
4 bedroom, 3 baths
2600 square feet
Sold in 9 days
Closed June 27, 2013
David Weekley Built
Wood Floors, Granite Counters
8504 Sea Ash Circle
4 bedroom 2.5 baths
3255 square feet
Sold in 61 days
Closed June 10, 2013
Master Up, Wood Floors, Granite Counters
8403 Columbia Falls Drive
4 bedrooms, 2 baths
1544 square feet
Sold in 1 day
Closed: June 14, 2013
Corian Counters, Wood Deck, Sold AS-IS
Market Insights 2013
Making sense of the market. Here we are moving into the selling season in Round Rock and its challenging to make sense of the market place due to various factors.
First let’s look at price and inventory according to the Austin Board of Realtors:
In January 2013, the median price for Austin-area homes
increased to $197,900, which is 10 percent more than the
same month in 2012. Additionally, the market featured 2.5
months of inventory in January 2013, which is 1.6 months
less than January 2012 and the lowest inventory figure seen
in the Austin area in the last decade.
According to the report, the market also featured one percent
fewer new listings, 25 percent fewer active listings and 25
percent more pending sales in January 2013 compared to the
prior year. On average, homes spent 71 days on the market,
which is a decrease of 14 days from one year prior.
According to Chairman Cathy Coneway, “The inventory of homes in
Austin continues to feature unprecedented lows and sales
prices are starting to reflect that. Those entering the market
should be prepared to compete for properties.”
February Stats are similar: According to the report, 1,626 single-family homes were sold in the Austin area in February 2013, which is 26 percent more than February 2012, and the total dollar volume of single-family properties sold was $430,324,152, or 32 percent higher than the same month last year.
Cathy Coneway, 2013 Chairman of the Austin Board of REALTORS®, explained, “Strong demand for Austin homes continues, but the number of listings on the market remains consistent. This has led to steady increases in price while keeping housing inventory at record lows.”
In February 2013, the median price for Austin-area homes increased to $208,500, which is seven percent more than the same month in 2012. Additionally, the market featured 2.6 months of inventory in February 2013, which is 1.6 months less than February 2012.
The market also featured one percent more new listings, 25 percent fewer active listings and 15 percent more pending sales in February 2013 compared to the prior year. On average, homes spent 71 days on the market, which is a decrease of 15 days from one year prior.
February 2013 Statistics
Here are the numbers for West Round Rock!
These numbers are dramatic. Notice that the estimated days to sell has dropped by 27 days. New listings are down by 8.7% from last year and active listings are down by 132 homes or 46% from last year! WOW! Prices are up on average by nearly 8%.
It’s March 2013 and for the first time in my nearly 15 years of watching the Stone Canyon Area, there are no homes for sale. None. I have never seen this lack of supply. This is a very unique occurrence and quite difficult to explain. The Stone Canyon area has always been a high turnover area. The neighborhood has been a sought after area for families that desire great schools for their children and a great community for their families. The high turn-over rates were driven by relocation, job growth, and moving up to communities like Twin Creek, Avery Ranch, Steiner Ranch or Canyon Creek.
I do have three properties coming on the market in the next few weeks.
8005 Herb Cave Cove, Round Rock TX 78681,
$248,000 is the pre-MLS price, 2600 sq. ft. per tax record,
4 bedrooms, 2 story home
8504 Sea Ash Circle, Round Rock Texas 78681,
$275,000 is the pre-MLS price, 3255 sq. ft. per tax record,
4 bedrooms, 2 story home.
7402 Two Jacks Trail, Round Rock Texas 78681,
$335,000 is pre-MLS price, 2821 sq. ft. per builder,
3 bedrooms and greenbelt, 2.5 car garage.
1 story home with covered rear patio