Real Estate Market Report For: Mueller (RMMA) Austin, TX
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.