Austin Real Estate Market Update – September 2006 Sales

Below are the sales stats for September in Austin, houses only (no condos or townhomes).

The average sales price across all MLS areas in Austin is up 5.89% over September of 2005.

The most important factors in Austin’s real estate market at this time are shrinking inventory and continued strong demand. Overall, Austin has less than a 4 month supply of homes, which is a Seller’s Market. Equalibrium is about 6 months inventory. Of course there are submarkets and neighborhoods in and around Austin that are doing better or worse than the overall average, but we are chugging along at a healthy pace here.

Austin Real Estate Sales Market Update - September 2006
Previous Month and Year Comparison
All Central Texas MLS Areas - Houses Only

 
August 2006
September 2006
September 2005
Yr % Change
# Sold
2529
2150
2198
-2%
Avg List Price
$256,508
$238,143
$226,174
+5.3%
Median List Price
$189,000
$174,900
$169,000
+3%
Avg Sold Price
$249,472
$232,128
$219,212
+5.89%
Med Sold Price
$185,000
$169,802
$164,750
+3.1%
Avg Size SQFT
2144
2069
2082
-0.6%
Median SQFT
1948
1866
1887
-1%
Avg $ per SQFT
$116
$112
$105
+6.67%
Avg Days on Mkt
60
57
66
-13%
Median Days on Mkt
36
37
46
-20%

Below is the breakout by Austin MLS Area.

Austin Sales Stats September 2006
Previous Month and Year Comparison
Average Sales Price By MLS Areas - Houses Only

August 2006
September 2006
September 2005
Change
MLS Area
# Sold
Avg Sold
# Sold
Avg Sold
# Sold
Avg Sold
% +/-
Area 1A
33
$514,505
31
$495,424
25
$482,338
+2.7%
Area 1B
58
$452,601
42
$519,343
48
$436,677
+20%
Area 1N
66
$275,110
63
$264,928
47
$237,350
+12%
Area 2
57
$211,172
39
$227,702
40
$200.073
+14%
Area 2N
42
$141,950
28
$133,622
33
$140,101
-4.6%
Area 3
48
$178,864
33
$200,340
34
$142,043
+41%
Area 3E
8
$110,286
15
$115,449
3
$91,812
+26%
Area 4
25
$295,264
12
$333,375
16
$281,658
+18%
Area 5
42
$147,306
34
$165,519
27
$107,818
+56%
Area 5E
16
$104,632
8
$116,362
7
$98,998
+18%
Area 6
26
$304,029
21
$363,876
31
$297,034
+23%
Area 7
9
$377,643
12
$359,783
12
$295,991
+22%
Area 8E
25
$879,649
17
$757,349
16
$912,883
-17%
Area 8W
50
$654,014
33
$622,096
36
$455,579
+37%
Area 9
10
$169,904
4
$141,032
6
$140,783
0%
Area 10
145
$155,390
128
$158,405
117
$143,667
+10%
Area 11
23
$117,713
26
$99,354
41
$96,606
+2.8%
Area BA
36
$150,614
35
$145,828
43
$118,179
+23%
Area BL
6
$259,400
7
$145,342
5
$270,980
-46%
Area BU
27
$221,205
26
$206,976
14
$154,178
+34%
Area BW
15
$170,148
17
$183,615
19
$199,354
-7.9%
Area CC
22
$150,439
18
$100,648
19
$108,231
+7%
Area CL
251
$179,093
211
$174,122
237
$158,731
+9.7%
Area EL
13
$146,231
17
$110,856
16
$148,343
-25%
Area FC
1
$74,900
0
0
0
0
N/A
Area GP
0
0
0
0
1
$26,0500
N/A
Area GT
114
$221,930
105
$213,040
89
$201,256
+5.9%
Area HD
48
$407,219
32
$339,221
41
$308,334
+10%
Area HH
95
$186,041
101
$160,614
83
$170,330
-6%
Area HS
15
$186,351
13
$187,832
14
$372,902
-50%
Area HU
55
$147,426
60
$134,389
28
$130,643
+2.9%
Area HW
35
$310,255
25
$218,695
20
$198,047
+10%
Area JA
19
$213,900
19
$205,094
7
$207,620
-1.2%
Area LC
3
$102,800
8
$209,675
0
0
N/A
Area LH
18
$319,470
15
$229,459
14
$217,347
+5.6%
Area LL
11
$176,739
7
$310,089
7
$189,714
+63%
Area LN
50
$326,114
46
$362,449
56
$261,446
+39%
Area LS
85
$466,254
52
$523,283
92
$432,551
+21%
Area MA
40
$147,064
33
$137,216
23
$123,169
+11%
Area MC
3
$97,333
4
81,950
0
0
N/A
Area N
45
$189,510
27
$187,360
45
$177,868
+5.3%
Area NE
34
$145,872
29
$141,860
27
$142,186
0%
Area NW
77
$226,834
52
$229,443
79
$212,161
+8.1%
Area PF
161
$168,371
134
$155,780
141
$144,588
+7.7%
Area RN
56
$530,065
39
$527,464
55
$480,580
+9.8%
Area RR
288
$197,685
259
$195,241
281
$180,146
+8.4%
Area SC
18
$200,443
19
$181,281
26
$190,578
-4.9%
Area SE
10
$103,637
22
$106,902
12
$106,262
+0.6%
Area SV
16
$158,809
11
$174,990
16
$136,115
+29%
Area SW
157
$242,614
109
$262,909
92
$232,340
+13%
Area TC
16
$105,601
22
$113,454
15
$105,726
+7.3%
Area W
37
$529,305
28
$447,064
33
$376,107
+19%
Area WE
2
$145,875
2
$122,750
2
$53,000
+132%
Area WW
2
$120,000
1
$65,000
4
$137,687
-53%
Area OT
6
$181,583
2
$158,750
6
$127,930
+24%

Austin MLS map

Posted by Steve
10 years ago
Steve

Steve is a Real Estate Blogger, Husband and Dad, UT Austin Grad, Runner, Real Estate Broker and owner of Crossland Team and Crossland Real Estate in Austin TX.

Click Here to Leave a Comment Below

John M. - 10 years ago

Does anyone happen to know what the new community that is being built just north of 290 and Belterra is called? The new construction is in between Heritage Oaks Drive and Oak Branch Drive.

Thanks!
John M.

Reply
Steve - 10 years ago

Hi John,

That’s Ledge Stone by Village Builders. There will be 160+ homes on 55 and 65 foot wide lots. Mostly 125 feet deep from the looks of it. Some will have decent hill country views.

The builder says “starting in the $250’s” which means most homes will probably be in the $300s to $400s. They are probably going to be a notch up from Belterra. I think it’s going to be a gated community.

Steve

Reply
John M. - 10 years ago

Ouch, it seems like most new home communities west of IH35 all start at $250…

Reply
Steve - 10 years ago

Hi John,

There still a few communities selling below $200K. Olympic Heights off Manchaca Rd. south of Slaughter Ln. is one Another new one is just south of Olympic Heights off of Frate Barker – I forget the name. The one on Frate Barker has the tiniest lots I’ve ever seen. They look about 40ft x 100ft. There is another new neighborhood on Manchaca Rd. just south of Slaughter on the east side of Manchaca Rd. (I forget the name of the one too) that has some homes starting at or around $200K.

The land has become so expensive west of IH35 that the builders have to price up the homes. It’s hard for builders to keep the developed lot prices below $50K anymore in the closer in south and southwest areas. That’s why we see the sprawl happening east and down in Kyle/Buda. Land is still cheaper out there and there will always be people willing to drive an extra 15 to 30 minutes for a nicer home than they can afford closer in (though I question whether the home is really “cheaper” once travel time and cost of commuting is factored in).

Steve

Reply
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