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