Real Estate Market Central Austin Update | Spring 2017

Thank you for visiting our real estate market central Austin update.  This area includes neighborhoods on both sides of the lake, such as Tarrytown, Barton Hills, Travis Country, Legend Oaks, and Western Oaks.  It includes Barton Creek neighborhoods on the west side, and Holly Street area on the East.   These neighborhoods attend Austin High School.

These are Austin’s central core neighborhoods, and they will always have high demand.  They were built from the early 1900’s to the present.  There has been almost constant remodeling over the years, and updating is just as active today, as new homeowners move in and modernize.

This is a large district, and there is a wide range in prices – going from about $250,000 to over $3,000,000.   Most homes sold in the 300,000- 700,000 range.  And, there was also a group of sales over 1,000,000.

The median home sale in 2016 was $590,000.

Price range   –  Number of Sales in 2016

100-200      1

200-300      27

300-400      122

400-500      154

500-600      89

600-700      107

700-800      81

800-900      46

900-1000    51

1000-2000  163

2000-3000  21

3000+         6

Months of Inventory on Market

We use a measurement called “months of inventory on market”.  This is an indicator of how quickly homes are selling.  About 6 months of inventory on market is considered a balanced market.

Central Austin Neighborhoods – Months of Inventory

Under $500k  – 1.4 months of inventory on the market

$500- to $1M –  2.2 months of inventory.

$1,000,000 -2,000,000 – 4.6 months of inventory.

Over $2,000,000 – 13.8 months

As a whole, the Austin High market is tight, with low inventory, with the exception of the over $2M market – which favors buyers.

Call us for help with selling your home, or finding your next home!

Thank you for visiting our market update northwest Austin.  If you are interested in selling or buying a new home, give us a call.   We would love to hear from you.  You will have one of Austin’s most experienced teams on your side.

Email:  Matthew Hejl – matthew@weloveaustin.com

Roselind Hejl – roselind@weloveaustin.com

Phone or Text:

Matthew Hejl – 512-297-1040

Roselind Hejl – 512-789-4563

If you are interested in selling or buying a new home, give us a call.   You will have one of Austin’s most experienced teams on your side.  Thank you for joining our real estate market central Austin update for Spring 2017.