North Austin Real Estate Market Report – January 2010 numbers
This is the first of our monthly Market Reports which will give buyers and sellers an idea of how different market segements are preforming. The first chart we have is Market Activity for the major markets in North Austin. We always use the most recently compiled statistics, which for the month of February would be the January 2010 numbers.
After reviewing the report, you will notice that homes in the Cedar Park North are and in the Georgetown area are selling for around 95% of the asking price. These areas also reported a high number of new listings, meaning sellers are facing increased competition and may be more likely to negotiate.
Homes in Lake Travis are staying on the market longer than any of the other areas, at well over 100 days between list to contract. The other interesting thing to note is in the North Lake Travis area the average list price of new listings is $450,086 but the average for closed transactions is only $159,656, which indicates that the stuff that’s selling is on the lower end of the price spectrum. This could translate to a huge advantage for buyers looking for high-end property on the north shore of Lake Travis. Read more about the Lake Travis Real Estate market
Overall, homes in North Austin are selling quickly, at 33 days and for over 96% of list price. In Area N there were only 34 new listings which means inventory there is tightening up.
Market Activity Report
Our second report shows average price per square foot for homes sold in some of the more popular North Austin Neighborhoods. A quick review of the neighborhoods shows that demand for houses in Avery Ranch and Steiner Ranch is high, and homes in Scofield Farms sold the fastest at a 22 days!
Neighborhood Reports
What are home selling for in my neighborhood?
Do any of these figures surprise you? Do you have any questions? As always, feel free to leave a comment, email me, or call me!
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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