Real Estate Market Report For: Maple Run Austin, TX 78749
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!