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%.
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!