Entries from May 2007
I was doing a search for a client who wanted to find a 3 bed, 2 bath home with a 2 car garage in Central Austin under $400,000. As of the beginning of this year I have tracked 88 homes that have sold with that criteria. Here is what I found…..
|
SOLD
CENTRAL AUSTIN - 88 Properties Found
|
|
|
List Price |
Square Feet |
$/SF |
Bedrooms |
Full Baths |
Living Areas |
Year Built |
Sales Price |
LP:SP% |
CDOM |
| Min |
$ 140,000 |
1138 |
$101.82 |
3 |
2 |
1 |
1940 |
$140,000 |
88% |
0 |
| Avg |
$ 331,938 |
1877 |
$177.36 |
3 |
2 |
1 |
1969 |
$ 327,840 |
98% |
61 |
| Max |
$400,000 |
2698 |
$275.53 |
4 |
3 |
3 |
2001 |
$ 420,000 |
112% |
350 |
The average price is $327,840 and that works out to about $177 sqft. It’s getting tougher to find a good 3 bed, 2 bath homes for sale under $400,000 in this current market.
Categories: Austin Housing · Austin Housing Market · Austin Real Estate · Buying Real Estate · austin tx homes for sale · homes for sale in Austin texas
In looking at what happened with Homes sales here in Austin during the month of April, we see that the listing
inventory has dropped but the sold prices have increased. Overall sales for the market are up too.
April 2007—Single-family Homes
- 2,313 homes sold, up 6% from April 2006
- $185,000 was the median price, a 6% increase from 2006
- $578,846,754 was the total dollar volume of properties sold, a 14% increase from a year ago
As for Average Prices:
The “New Listings” average list price is up 18.61% to $332,105.
Sold average sales prices increased 5.87% to $243,425 compared to $229,921 in 2006.
Townhome & Condo Sales
The townhouse and condo sales continue to be Austin’s real estate strong point, pulling in $49,615,118 for the local economy, which is 9% more than in 2006. The 266 townhouse/condominium properties sold represent a 2% increase in sales from one year ago. The downtown Austin condo market is fueling a lot this growth. The Austin area median price remains very affordable compared to the national median price, which, according to the National Association of REALTORS®, averaged $212,300 in the first quarter of 2007.
Categories: Austin Condos · Austin Downtown Austin Condos · Austin Housing · Austin Housing Market · Austin Real Estate · Business Growth · Buying Real Estate · Housing Market · Investing in Austin Real Estate · Market Update · Real Estate
A $64 million residential development is planned in Southwest Austin. Pacific Century Homes has already broken ground on Aviara. Set on 40 acres on Old Bee Caves Road near the new AMD campus, the project will include 160 townhomes and 66 single-family residences. Building should begin in June with buyers scheduled to start moving in by year-end. Townhomes in the Heights at Aviara will range from 1,200 square feet to 2,200 square feet with prices from $240,000 to $311,000. Single-family homes in the Residences at Aviara will range from 2,100 square feet to 2,900 square feet and priced from $315,000 to $365,000. Avilla says the company expects the entire project to be sold out by the end of 2009.
Categories: Austin Housing Market · Austin Real Estate · Buying Real Estate · Investing in Austin Real Estate · Real Estate · homes for sale in Austin texas
The Atlanta Based Developer, Novare Group who are building the 360 Condominiums in downtown Austin, have announced they will build a 28 story Condo tower and Hotel in the Domain Project that is in North Austin. This will be the tallest building located outside of downtown Austin.
The Domain Project has been under development near North MoPac Boulevard (Loop 1) and Burnet Road, is being developed by Austin-based Endeavor Real Estate Group LLP.
Construction is set to begin in the spring of 2008. The condo tower will have 360 Condos and a hotel in it called “The Twelve”, which is a hotel that Novare has built in Atlanta. This hotel has some very cool automated tech systems for the guests. This should be one the new hip places to stay in north Austin once it’s built.
We’ve seen the downtown austin sector heat up with condo developments. Are we going to see this happen in North Austin? I don’t think so, unless it’s surrounded by a high end retail development like the Domain. We’ll keep you posted on how this development goes.
Categories: Austin Condos · Austin Housing · Austin Real Estate · Buying Real Estate · Downtown Austin Projects · Housing Market · Real Estate
Austin is again popping up near the top of a national list again with the being the 5th rated best home buying market in the country. Actually there 5 real estate markets in Texas that ranked very high according to the annual Housing Predictor Hottest 10 Buyers Markets forecast. This another indication of how bullish real estate has become in Austin and Texas.
Five Texas real estate markets made the annual Housing Predictor Hottest 10 Buyers Markets forecast, with Austin securing the fifth spot at nabbing the second spot at 8.2 percent forecast for 2007. Other Texas markets to make the list were McAllen (second), Houston (sixth), El Paso (eighth) and Dallas (tenth). Albuquerque, N.M., was named number one. Housing Predictor’s selections are based on surveys of 75 out of more than 250 housing markets forecast on its website. The highest amount of forecast appreciation during the remainder of 2007 was given the heaviest weight in the survey. Market conditions, sales velocity, pricing and more than 20 other factors were also considered.
[McAllen Economic Development Corporation]
If you are a buyer thinking about buying real estate now is the time to find something because if you don’t the prices are going to continue to rise.
Categories: Austin Housing · Austin Housing Market · Austin Real Estate · Buying Real Estate · Housing Market · Investing in Austin Real Estate · Nationwide Update · Real Estate · Real Estate Trends
The Month in Review: April 2007
New listings were down by 23.05%.
Solds increased by 17.34%.
As for Average Prices:
“New Listings” average list price is up 18.61% to 332,105.
Sold average sales prices increased 5.87% to $243,425 compared to $229,921 in 2006.
Did You Know…?
That we had 8,874 active listings during the same week in 2006? Today there are 9,332 active listings!
May is normally one of the busiest sales months for real estate in Austin. So stay tuned for some HOT activity to happen. Lots of new listings and plenty of SALES.
Categories: Austin Housing · Austin Housing Market · Austin Real Estate · Buying Real Estate · Housing Market · Investing in Austin Real Estate · Market Update · Real Estate · homes for sale in Austin texas
When I walk with my wife we often see people who have their recycling out and are shocked to see what kind of things they have in it they think will be recycled. So here’s a good link to read so you know the Do’s and Don’t’s of Recycling here in Austin.
Keeping Austin Beautiful
Categories: Austin Housing · Internet Links · Resources
