November 11th 2011
Real Estate Market Report For: Belterra Master Planned Community, Austin, TX
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.