North Austin Real Estate Market Report February 2010
- The latest Austin real estate stats
Upon further examination, the report shows that these two areas also had the shortest DOM or “average days on market.” I believe that this is due to the short supply of homes in the area. There have recently been reports of multiple offers on homes in the area, which confirms that we do indeed have a shortage of inventory.
The Cedar Park and Lake Travis areas continue to see the majority of activity, however, due to the high levels of inventory, the spread between the average list price of new listings verus the homes that are selling continues to be large, further indicating that this is a great time to buy high end luxury property.
Our neighborhood report shows a few new and interesting trends. The first is that the Pioneer Crossing subdivision in North Austin seems to be gaining in popularity. Homes here are selling quickly, at 49 days on average, which I attribute to the relative newness of the houses there and the average sales price of $158,748, which appeals to first-time buyers.
Steiner Ranch also continues to see a good amount of activity with 17 closed transactions in February at an average of $117.54 per square foot.
Real estate stats by North Austin neighborhood
Let me know if you need help interpreting our charts!
Written by Jim MorelliREMAX Capital City | 13018 Research Blvd. | Austin TX 78750
Direct 512.918.1562 | Fax 512.331.7480
http://www.LivingNorthAustin.com
jim@livingnorthaustin.com
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