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Crestview Neighborhood Housing Trends

Real Estate Market Trends For: Crestview Neighborhood Austin, TX 78757


Introduction: Crestview is a well established and tightly knit neighborhood located in North Central Austin. Its close-in location makes it a desirable location for anyone looking to be closer to downtown. Having been built on the site of an old dairy farm in the 1950’s and 60’s, the area is famed for its charming bungalows and early ranch homes sitting atop mature lots.

Like most centrally located neighborhoods, Crestview has seen a surge in home values over the past few years. Because of the rising demand and prices, it isn’t uncommon to find some of the older bungalows completely renovated from the studs out. This has helped to maintain the retro feel “homeland” feel of the area; though there are a few contemporary styled new constructions here and there. The neighborhood boundaries for Crestview are North at W. Anderson, East at N. Lamar, South at Justin Ln and West at Burnet Rd.

Inventory and Sales: Home inventory is fairly low for this market area with a total of only 3.1 months worth of inventory currently offered for sale. We are currently seeing around 8 homes sell per month, a slight increase in activity over the previous year. This can also be seen in the total number of homes sold this year vs. last, which is up around 19%.

Distressed Sales and Listings: Distressed sales, including foreclosures and short sales, are rare in this market area. Since there is such high demand for properties in the area, homeowners who have found themselves in a bad financial situation can find a buyer for their home very quickly. We’ve only noted 2 distressed sales this year, the same number as the previous 12 month period.

New Homes and Construction: Despite the majority of homes being constructed prior to the 1960’s, there are a few new homes in the market. These newer homes are partly responsible for the astounding 36.7% increase in high-end home sales within the market.

Overall Market Conditions: The Crestview market area, along with most its surrounding neighborhoods, is exhibiting very strong market signals. Median home prices are up 10.4% over the previous year; days on market are less than 30 for most homes with the median running right at 8 days! Values are continuing to rise and will likely do so through the Summer.

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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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Austin neighborhoods we appraise

We provide real estate appraisals and related services to the following cities, towns and communities across the Austin metro area. We cover a large portion of Central Texas - if you don't see your area below, please call to confirm with one of our friendly staff.

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Anderson Mill | Bee Cave | Briafclif | Brushy Creek | Buda | Cedar Park | Creedmoor | Del Valle | Elgin | Georgetown | Hays | Hutto | Jollyville |
Jonestown | Kyle | Lago Vista | Lakeway | Leander | Manor | Mustang Ridge | Pflugerville | Point Venture | Rollingwood | Round Rock |
San Leanna | Shady Hollow | Sunset Valley | Webberville | Wells Branch | West Lake Hills

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Real Estate Appraisals Austin
4.8
Based on 45 reviews
Ed came out on short notice to measure a new home I was in the process of purchasing. He was professional and honest in his work. I found him online and it was not through my lender. I wanted an independent appraiser since the lender was connected to my builder. Definitely will use him again if I ever needed to. I was a first time home buyer and he was fair to me and helpful. Thank Ed!
Jennifer Nguyen
Jennifer Nguyen
The realtor that came out was very professional and thorough. I would recommend this service.
Nancy Crow
Nancy Crow
This company is contracted to my mortgage company for market appraisals to remove PMI. They contacted me right away and had the whole thing turned around in less than a week. Appreciate the speed and the quality of the service and would definitely recommend.
Jeanna Kozak
Jeanna Kozak
I was able to schedule an appraisal just two days after contacting the company. Likely this was a fluke, but it worked well for me! Our appraiser was a bit late, but that was the fault of the previous appointment. Once he arrived, he listened to everything we pointed out. Our appraisal was fair for our neighborhood we thought and the report arrived about 8 days after the appointment. We are happy and will recommend Real Estate Appraisals Austin to any others we know.
Leah L
Leah L
We used Real Estate Appraisals Austin and found them to be very professional, accommodating and efficient. Their work product was thorough and very well presented. We would definitely recommend them and would use them again.
Calvin Porter
Calvin Porter
I recently had a rental appraisal of my property. The appraiser showed up on time and did a thorough analysis. The report took a week, but it was very thorough. I am very happy with the appraiser and the report.
Karthik Manamcheri
Karthik Manamcheri
We recently used Real Estate Appraisals Austin to appraise a property we have owned over 15 years and have had multiple offers to sell. Michelle was very helpful and professional in coordinating with our property manager. She responds very quickly to calls or emails. Edward did a thorough appraisal and took the time to call and discuss details. I definitely would recommend this company to anyone considering an appraisal in Austin. The price was very reasonable, I felt, for the value we received.
Lorrie Coles
Lorrie Coles