STONE CANYON is HOT~ Media Prices increase by 9.8% , Inventory down 4.7%

2014-05-04_1422Hot Market causes rapid rise in home values.  Recently homes in Stone Canyon have been receiving MULTIPLE OFFERS and FAST!

The House we recently sold on Laughing Water Received 6 offers in 3 days with all offers over the market value.

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Stone Canyon Prices are Peaking and Stabilizing

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.

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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

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New Stone Canyon Listing and Coming Soon!

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Recent Stone Canyon Sales Data from The Bob Guest Team!

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Stone Canyon Values Rise 6.5%

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Stone Canyon News – RISING VALUES – finally!

Austin-area Home Sales Rise 30 percent in August; Market Doubles in Size Since 2010

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.”

August 2013 Statistics

  • 3,082 – Single-family homes sold, 30 percent more than August 2012.
  • $224,000 – Median price for single-family homes, six percent more than August 2012.
  • 43 – Average number of days single-family homes spent on the market, 19 days fewer than August 2012.
  • 3,174 – New single-family home listings on the market, 16 percent more than August 2012.
  • 6,075 – Active single-family home listings on the market, 16 percent fewer than August 2012.
  • 2,399 – Pending sales for single-family homes, nine percent more than August 2012.
  • 2.8 – Months of inventory* of single-family homes, 1.2 months less than August 2012.
  • $883,147,100 – Total dollar volume of single-family properties sold, 36 percent more than August 2012.

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 marketing@abor.com or 512-454-7636. Visit AustinHomeSearch.com, a public resource on Austin real  estate, for the latest news on the local housing market.

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Just Sold – 8352 Fern Bluff Drive

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Price: $299,000

   4 bedroom, 4 baths

   3213 square feet

   Sold in 16 days

   Closed September 12th 2013

   David Weekley Built “Reagan”

   Master Down

   Original Condition

   1996 construction

 

JUST LISTED

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8352 Fern Bluff Avenue

Price: $299,000

3213 Square Feet per tax record

4 bedrooms 3.5 baths

 

Fantastic street appeal and mature trees.

David Weekley Built, High Ceilings, Island Kitchen,

Loft Style Game Room, Master Down,

Formal Living and Formal Dining Room, 3 Car Tandem Garage

 

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JUST SOLD in June 2013

Front 8005 Herbs Cave Cove8005 Herbs Cave Cove  

Price: $250,000

4 bedroom, 3 baths

2600 square feet

Sold in 9 days

Closed June 27, 2013

David Weekley Built

Master Up

Wood Floors, Granite Counters

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Front Sea Ash Circle

8504 Sea Ash Circle

Price: $279,400

4 bedroom 2.5 baths

3255 square feet

Sold in 61 days

Closed June 10, 2013

Hammonds Homes

Master Up, Wood Floors, Granite Counters

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8403 Columbia Falls Drive

Price: $150,000

4 bedrooms, 2 baths

1544 square feet

Sold in 1 day

Closed: June 14, 2013

Corian Counters, Wood Deck, Sold AS-IS

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Market Insights 2013

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.”

 

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 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

  • 1,626 – Single-family homes sold, 26 percent more than February 2012.
  • $208,500 – Median price for single-family homes, seven percent more than February 2012.
  • 71 – Average number of days single-family homes spent on the market, 15 days fewer than February 2012.
  • 2,574 – New single-family home listings on the market, one percent more than February 2012.
  • 5,121 – Active single-family home listings on the market, 25 percent fewer than February 2012.
  • 2,223 – Pending sales for single-family homes, 15 percent more than February 2012.
  • 2.6 – Months of inventory* of single-family homes, 1.6 months less than February 2012.
  • $430,324,152 – Total dollar volume of single-family properties sold, 32 percent more than February 2012.

Here are the numbers for West Round Rock!

 2013-03-23_0806

 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%.