Real Estate Market Analysis For: Circle C Ranch Subdivision Austin, TX 78739

Introduction: Circle C Ranch is a master planned community consisting of more than 4,800 homes located in South Austin’s 78739 zip code. Development of the community began in 1983 by Gary Bradley with the first homes being built in 1988 in Phase 1 of Circle C, which is located at the intersection of La Crosse Ave and Escarpment Blvd.

Originally, Circle C was unincorporated and not part of Austin. The neighborhood had even taken steps to insure that it could never be annexed involuntarily. But in 1997, to many residents dismay, the neighborhood was officially and legally annexed by the City of Austin. Despite this turn of events, the neighborhood has seen tremendous growth and has become one of the most sought after communities to live in the South Austin area.

As the community grew, so did the availability of local retail shops, recreation centers and schools. One such local amenity is the Circle C Swim Center which is one of the largest and nicest swimming complexes in Texas. And although you are a 20 minute drive from downtown Austin, the area is blanketed with shopping facilities including those within the Escarpment Village. To round things out, this area features several golf courses and is home to Austin’s largest ISD, Bowie High which was opened in 1988.

Inventory and Sales: Being a large community, Circle C has more yearly activity than most other real estate markets in and around the Austin area. While last year saw the sale of roughly 246 homes, this past year to date has shown a slight increase in sales volume with a total of 266 homes sold, equating to a 8% increase in sales volume. This means there are around 22 homes sold per month in Circle C.

Given this volume of sales, it would take an estimated 1.7 months to sell the current inventory of 37 homes on the market. However, this number is likely inflated since 25 of those homes are already in “Pending” status and the area’s median Days on Market is around 16 days.

Distressed Sales and Listings: Distressed sales, those characterized as being foreclosure or short sales, are not an influential factor in Circle C. While a community this large with over 250 homes a year selling is certainly going to see a distressed sale here and there, they are mainly the outliers. As of the creation of this market analysis there have only been 9 known distressed sales in the last year which represents 3.4% of all transactions.

New Homes and Construction: The majority of homes in Circle C Ranch were constructed between the years of 1994 and 2004; however, newer developments have began on the outskirts of the original community. These newer sections, such as Alta Mira, Avana Esquel and Park West, have introduced roughly 10-15 new homes for sale each year over the past three years – a number that will likely increase over the next few years.

Overall Market Conditions: Market indicators for the Circle C Ranch community are currently very strong. Low Days on Market, low Inventory and high List Price to Sales Price ratios all indicate that Realtors in this market area are having no issues moving homes, so long as they are not priced too far ahead of current market highs. Median home prices have increased roughly 9.7% in the last 12 months and have been on an upward trajectory for the last two years straight. Meanwhile, the median sales price for high-end properties in this area have increased 8.7%.

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This report was created utilizing data from the Austin MLS system, as input by local Austin Realtors. This report should be considered a “Macro View” of the market. Only single family housing trends have been analyzed and while they represent the majority of real estate sales in the market area, this report should not be considered all encompassing. If you would like a more precise analysis of a specific segment within this market area, feel free to give us a call!

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Date: 2/6/2013

Real Estate Market Report For: Villages at Western Oaks Subdivision Austin, TX 78749

Introduction: The Villages at Western Oaks is another one of South West Austin’s popular neighborhoods consisting of approximately 1,600 homes. The subdivision is located in the 78749 zip code and situated between West William Cannon and Slaughter. The VAWO is located adjacent to it’s older sibling, Western Oaks, which is a smaller and older development to the North.

Our subject neighborhood has been steadily increasing in value over the past four years mainly due to its convenient location off of MOPAC, which allows you a 15 minute drive to downtown Austin and even shorter to the greenbelt and Barton Creek Mall. You are also within walking distance to the Arbor Trails shopping center which offers not only convenient shopping but food as well! If you’re looking to get some sun and fun the area features Dick Nichols Park and an abundance of trails for jogging and biking.

The term “Villages” was applied to the neighborhood because homes were constructed in phases which are now considered different sections such as Deerfield Village, Oakland Village and Beckett Village. Most homes in the neighborhood were constructed in the 90′s by builders such as David Weekley, Scott Felder, Newmark, Centex and more.

Inventory and Sales: There is quite a lot of activity in the Villages each year, with roughly 150+ properties sold in the past 12 months. This number is a 32% increase in the number of sales from last year. The neighborhood sees about 13 home sold each month and has an incredibly low current inventory of only 1.3 months worth of homes on the market. Coupled with a decreasing average Days on Market as well and you have all the positive indicators that the Western Oaks Villages are a very hot market.

Distressed Sales and Listings: Given the number of homes selling in the area, distressed property sales are very low. We classify a distressed sale as a foreclosure, short sale or REO sale. The VAWO has only a 1.9% distressed sale rate over the past 12 months, which is slightly lower than the year before.

New Homes and Construction: Most of the homes in this subdivision were built between 1994 and 2000 with a few as old as 1978 and as new as 2005, but those are uncommon. As such, new homes are not a factor in this market area.

Overall Market Conditions: The Villages at Western Oaks demonstrates all the signs of a strong market that is on the incline. Median sales prices have risen steadily over the last 3 years while time to sell has been decreasing and List Price to Sales Price ratios have been increasing. This means more Realtors are getting their asking price for homes in the area without much market exposure – it isn’t uncommon to find homes with multiple offers on them in a market such as this. Given it’s close-in location, abundance of quality homes and scenic placement, this neighborhood should continue to appreciate well into the future.

Click Here to Download the Report

This report was created utilizing data from the Austin MLS system, as input by local Austin Realtors. This report should be considered a “Macro View” of the market. Only single family housing trends have been analyzed and while they represent the majority of real estate sales in the market area, this report should not be considered all encompassing. If you would like a more precise analysis of a specific segment within this market area, feel free to give us a call!

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Real Estate Market Report For: Westcreek Subdivision Austin, TX 78749

Introduction: The neighborhood of Westcreek, located in the 78749 zip code, is another one of  South Austin’s hidden jewels. Comprised of roughly 720 homes, the subdivision is conveniently located right between Mopac and Hwy 290 West. This excellent location provides easy access to either freeway by way of William Cannon. You can also access 290/71 by weaving through the Northern part of the neighborhood; while a bit more scenic, the traffic is less to deal with. This location is within walking distance to the Arbor Trails shopping center and a 5 minute drive to Sunset Valley. The neighborhood has a nice mixture of demographics with the age being split 50/50 between younger homeowners and older, long-time owners. For the most part homes and yards throughout the neighborhood are well kept and there is an active and voluntary homeowners association.

Inventory and Sales: Turnover is Westcreek is fairly rare, with only 20-30 homes selling each year and days on market typically less than two weeks. This is definitely a sought after area. Overall sales volume has increased by 13% over the previous year, where it had slipped some from its 2010 numbers. With the low number of homes available, and the quick selling times, inventory and absorption rate are a none issue for local Realtors.

Distressed Sales and Listings: As with most highly sought after areas, distressed sales (foreclosure, short sale, REO) are not a common occurrence in Westcreek. At current there are zero active distressed properties and zero distressed sales over the last year.

New Homes and Construction: With build dates ranging from 1978 to 1986, and no available room for further expansion, new construction isn’t common in Westcreek. Land values have not yet reached the point where demolition and construction of new homes would be profitable. As such, there have been no newly constructed homes sold within the last 5 years.

Overall Market Conditions: The housing market for the Westcreek subdivision is looking very stable. Median sales prices are currently at $229,000, a 7% increase over last year. Local Realtors appear to be doing a good job of listing homes for reasonable asking prices since the average Original List Price to Sales Price Ratio is right around 97.2%. Keeping in mind that most Real Estate agent recommend listing at least 3% higher than what you are willing to take, this is the perfect LP/SP ratio. This area will likely continue to appreciate over the following years due to the perfect location between two major highways, proximity to shopping, 15 minute commute to downtown and the fact that homes in the area are perfectly suited for new homeowners or retirees alike.

Click Here to Download the Report

This report was created utilizing data from the Austin MLS system, as input by local Austin Realtors. This report should be considered a “Macro View” of the market. Only single family housing trends have been analyzed and while they represent the majority of real estate sales in the market area, this report should not be considered all encompassing. If you would like a more precise analysis of a specific segment within this market area, feel free to give us a call!

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Introduction: The neighborhood of Maple Run is an older South West Austin community established in the mid to late 1980′s. Located between Williams Cannon Dr. and Davis Ln., and just minutes off of the MoPac ExpressWay, Maple Run is a great location for young professionals or first time home buyers looking to live within 15 minutes of downtown Austin. This location also places you near several parks and recreational areas including Longview Park and the Barton Greenbelt.

Inventory and Sales: Overall sales volume has only declined slightly over the last three years with an absorption rate of around over 7 homes per month sold, and an inventory of just over 3 months worth of housing. We typically see around 70 – 80 homes sale per year in Maple Run but trends suggest that the 2012 year may show increased sales and values for the neighborhood.

Distressed Sales and Listings: Unfortunately a string of foreclosures over the last year have created a bit of concerning regarding the neighborhoods health and home values. Further analysis shows that there were three foreclosures in 2009, none in 2010, three in 2011 and we’ve seen two already in 2012. Since these numbers are still well below the 10% foreclosure rate that it usually takes to start negatively impacting property values, this is considered a “stable” market condition.

New Homes and Construction: Newly built homes are not present in Maple Run. Most homes were constructed between 1981 and 1998 with the predominant age of homes sold being between ’83 and ’89.

Overall Market Conditions: The housing market in Maple Run has shown to be cautiously stable with only slight decreases in sales volume and median sales prices since 2009. As mentioned, 2012 is shaping up to be a great year for the neighborhood with home values on the rise, days on market decreasing and number of homes sold already roughly half the volume of the previous year. List price to Sale Price Ratios are around 97.5%, slightly above the 97% average for most homes. This displays the fact that both Realtors are doing a good job of pricing homes accurately for the market and that buyers are willing to pay near original asking price for most homes.

This report was created utilizing data from the Austin MLS system, as input by local Austin Realtors. This report should be considered a “Macro View” of the market. Only single family housing trends have been analyzed and while they represent the majority of real estate sales in the market area, this report should not be considered all encompassing. If you would like a more precise analysis of a specific segment within this market area, feel free to give us a call!

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Introduction: Avery Ranch is master-planned community built on 1,800 acres located in Northwest Austin. The neighborhood consists of over 4,000 homes, a 226 acre golf course, and numerous recreational amenities. Home values range from the mid $100′s to $600,000+.

Inventory and Sales: Overall sales volume has remained relatively stable over the last three years with an absorption rate of just over 14 homes per month sold, and an inventory of just over 5 months worth of housing. While sales trends have remained steady, the number of sales over the last 12 months is about 9% lower year-to-date.

Distressed Sales and Listings: The total number of known distressed and/or foreclosure sales has also remained stable at around 6% of all transactions. While this number is slightly higher than the desired 5% or less, it is still below the 10% mark which is when foreclosures begin to negatively affect a market area.

New Homes and Construction: New home sales have made a bit of comeback over the last 12 months with 21% of all sales being new construction homes; this is an increase of 4.5% over last year. Predominant single family home sales over the past 12 months average between $204,000 – $248,000 but this number includes ALL SFR properties, including some of the smaller, less expensive town homes and condos.

Overall Market Conditions: The housing market in Avery Ranch continues to be stable, with no immediate signs of distress or indicators of declining values. Average Days on Market for well priced properties remains below 2 months, while list price to sales price ratios still remain strong at around 97-98%. This indicates that Realtors are doing a good job of pricing homes accordingly, and buyers are not finding the prices unreasonable. Finally, price per square foot for both typical and median ranges have remained virtually unchanged over the past 12 months.

This report was created utilizing data from the Austin MLS system, as input by local Austin Realtors. This report should be considered a “Macro View” of the market. Only single family housing trends have been analyzed and while they represent the majority of real estate sales in the market area, this report should not be considered all encompassing. If you would like a more precise analysis of a specific segment within this market area, feel free to give us a call!

The post Avery Ranch Housing Market Report appeared first on Real Estate Appraisals Austin Tx.

Introduction: Steiner Ranch is master-planned community between Lake Austin and Lake Travis. It is home to the University of Texas golf course, the legendary Steiner Ranch Steak House, and boast over 4,600 acres of hill country views. Home values range from the low $200′s to over 3 million for homes in the private gated sections.

Inventory and Sales: Overall sales volume has remained relatively stable with an absorption rate of just under 24 homes per month sold, and an inventory of just over 4 months worth of housing. This steady trend has lead to only a 5% decrease in the total number of homes sold year over year.

Distressed Sales and Listings: The total number of known distressed and/or foreclosure sales has decreased from 7% previous 12 months to only 4.9% in the last 12 months. Further decrease in this number is expected as only 2 distressed listings are currently on the market.

New Homes and Construction: New home sales continue to remain strong in this still growing community with around 23% of all sales being new construction homes; this is almost the same number of new home sales as we saw 3 years ago. Predominant single family home sales over the past 12 months average between $364,000 – $406,000 but there are still a large portion of homes for sale under the $300,000 mark.

Overall Market Conditions: The housing market for Steiner Ranch continues to be one of the strongest real estate markets in Austin. A combination of amenities, location and a wide range of home prices allows this neighborhood to accommodate various income segments. Steiner Ranch shows all the signs of a healthy real estate market including steady home sales, decreasing days on market for well priced homes, slowly increasing prices per square foot, and decreasing number of distressed listings and sales.

This report was created utilizing data from the Austin MLS system, as input by local Austin Realtors. Only single family housing trends have been analyzed and while they represent the majority of real estate sales in the market area, this report should not be considered all encompassing.

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Introduction: Formerly the location of Robert Mueller Municipal Airport, the mixed-use development known as Mueller is a 700-acre site with over 4,900 housing units. It is located just 3 miles North-East of downtown Austin making it just minutes from the University of Texas and Downtown. The community is labeled an “Urban Village” containing all types of properties from single-family homes, condos, multi-family units, commercial buildings and vasts open areas for recreation.

Inventory and Sales: Sales volume has remained stable over the last 3 years with low inventory and average days on market for most well priced homes. Over the past 12 months, home sales have equaled 98% of their previous 12 month numbers.

Distressed Sales and Listings: There have been virtually no known foreclosure and distressed sales over the last year, with MLS records only showing one foreclosed sale in the last 12 months. Additionally, there are currently no known distressed or foreclosed listings.

New Homes and Construction: Being a new development, new home sales continue to be a predominant in the market; however, the resale market has shown to be keeping pace with new construction and that homes are holding their values. Predominant single family home sales over the past 12 months average between $310,000 to $358,000 but there are still a good many that fall under the Mueller “affordable homes” plan.

Overall Market Conditions: The housing market for Mueller appears to be very stable but has taken a small dip since last year, and is still below the highs that were set in 2008. Further analysis has shown that the dip in values and price per squat foot could be related to more affordable homes being constructed to accommodate moderate income families.

This report was created utilizing data from the Austin MLS system, as input by local Austin Realtors. Only single family housing trends have been analyzed and while they represent the majority of real estate sales in the market area, this report should not be considered all encompassing.

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Introduction: The Woods of Brushy Creek is a deed restricted neighborhood of 700 plus homes located in North Austin. The community is located within the Round Rock ISD school district and in the zip code of 78717. The following market analysis was created using sales data for single family residences only (Home, Town Homes, Condos) spanning the 5 years prior to the date of the report.

Inventory and Sales: Sales have been strong over the past 12 months, exhibiting a 260% increase year-over-year (12 months from date of report). Additionally, inventory rates are low as the absorption rate for the market hovers just over 4 homes per month sold.

Distressed Sales and Listings: The number of foreclosure and known distressed sales have been relatively low over the last 12 months, remaining below 10% of all total sales volume. There are currently no known distressed or foreclosed listings.

New Homes and Construction: New home construction is not prevalent in the market area, with no known listings for new homes appearing the past 5 years. Predominant home sales have ranged in age from 1989 to 1999. Predominant single family home sales over the past 12 months average between $181,000 to $211,000.

Overall Market Conditions: The housing market for The Woods of Brushy Creek appears to be very stable. This is confirmed by stable housing prices, low foreclosure rates and low days on market, with an average DOM of 3 to 84 days. While at first glance, home values would appear to be on the rise; however, a second look will reveal that median price per square foot has remained relatively level, actually decreasing slightly, over the last 12 months.

This report was created utilizing data from the Austin MLS system, as input by local Austin Realtors. Only single family housing trends have been analyzed and while they represent the majority of real estate sales in the market area, this report should not be considered all encompassing.

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Introduction: Belterra is a master planned community located in South West Austin just past the Y in Oakhill (Hwy 71 and Hwy 290 intersection) between Nutty Brown Road and Sawyer Ranch Road. Located within the Dripping Springs School District and at the northern tip of Hays county, Belterra is still within Austin city limits. The zip code for Belterra is 78737. The following market analysis was created using sales data for single family residences only (Home, Town Homes, Condos) spanning the 5 years prior to the date of the report.

Inventory and Sales: The volume of recorded home sales over the last 12 months has fallen slightly to 89% as compared to the previous year to date, while inventory is just slightly above the healthy indicator of 6 months. This shouldn’t be alarming though as higher than usual inventory rates are common in developing communities with new construction homes making up a larger portion of the available inventory.

Distressed Sales and Listings: The number of foreclosure and known distressed sales have been relatively low over the last 12 months, remaining below 10% of all total sales volume, and down from 9% total of the last 12 months. There are currently two distressed or foreclosed listings on the market.

New Homes and Construction: The sale of new homes in the Belterra community has remained relatively stable over the past three years, averaging around 45% of all total sales. This demonstrates a strong market for resales as well as new homes. Predominant single family home values over the past 12 months have been between $305,000 to $343,000 with a noted increase in median price per square foot.

Overall Market Conditions: The housing market for Belterra appears to be very stable with a slight increase in home values being noted as in increase in median price per square foot as well as overall home prices. Furthermore, days on market have remained lower, with an typical time to close of 65 days.

This report was created utilizing data from the Austin MLS system, as input by local Austin Realtors. Only single family housing trends have been analyzed and while they represent the majority of real estate sales in the market area, this report should not be considered all encompassing.

The post Belterra Subdivision Market Report appeared first on Real Estate Appraisals Austin Tx.

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