Wells Branch Community Real Estate Market Report for January 2012. Yes, it is 2012 and time flies whether we like it or not. In an effort to update you on the real estate market in Wells Branch area, I will post monthly report of homes for sale, under contract and sold homes in the Wells Branch area. "Wells Branch" is a very large and popular community in North Austin, composed of 7 small subdivisions: Bratton Park, Bratton Hill, Jacks Pond, Lake At Wells Branch, Willow Run, Wells Branch Subdivision itself and the recent new home builder addition, Preston Village, which is located farther North, near Round Rock, Texas.
General Location: In between I-35 and Mopac connected by Wells Branch Parkway.
There are currently 21 Active listings in Wells Branch Area;
There are 3 distressed homes for sale at this time, 2 foreclosures and 1 short sale;
There are 4 new homes in the inventory in Wells Branch area, they are in a new subdivision, Preston Village;
Active listing sales price are between $105,000 - 218,990
Home square footage of active homes are between 1,133 up to 2,515 SF.
There are currently 19 homes under contract, waiting to close in Wells Branch;
Pending homes price range from $124,900 - $195,000
There are 3 distressed sales that are under contract at this time, 2 foreclosure and 1 short sale.
These contract pending homes will be part of my sold date in early March for my February market report.
There are 8 homes SOLD in the month of January in Wells Branch area.
No distressed (short Sale and Foreclosure) home sold in January;
Homes are sold between $145,500 - $205,000;
Seller concession (Seller paid part of Buyers closing cost) ranges from $0-$4,200.
So what does all this data means to you as a consumer?
Great questions! These data points are very useful to guide us to see how the market is doing in a certain area, in this case, Wells Branch area, North Austin. Remember, the property is only worth what the buyers are willing to pay, in this case, the Seller should pay attention to the sold data, if the Seller is serious about selling, they should stay within the range of sold price, typically the price per square foot, unless the property has something compelling to offer, for example a beautiful view of the pond in Wells Branch and/or custom flooring or an item that a potential buyer would view as value such as a large covered back patio. (buyers like covered outdoor space for cooking and entertaining)
So what does the "under contract" data tells us?
The under contract (or contract pending) homes are the homes that the buyers are committed to buy and in the process of closing the deal. The home prices in this category (or status) are what the buyers are willing to look at and start their negotiations. In a typical market like Wells Branch area, homes are usually sold lower than the pending price status. The pending status will change to SOLD status when the home closes and this data will become part of the SOLD home report to you in early March for the February market report.
What is the SOLD to Active ratio in Wells Branch Area, North Austin?
At this time, there is 1 sold home for every 3 active homes. We call it the Real Estate Absorption Rate. In this case the Absorption rate in Wells Branch area is 38%. This is a great absorption rate. Wells Branch is considered to have a very active real estate market.
What makes Wells Branch area attractive to Home Buyers?
Wells Branch has a lot of community amenities to offer. There are 3 public parks, 2 swimming pools, tennis nd basketball courts, highly rated elementary school (Wells Branch Elementary), shopping center, restaurants and other commercial establishments and employers, all without leaving the neighborhood and a fire department station right on Bratton/Shoreline.
I hope this market report that I worked on is beneficial to you and will help guide you when you are thinking about buying or selling in the Wells Branch area. Please contact me if you have any questions, need my services to list your home or if you are planning to buy a home in one of the Subdivisions in Wells Branch.
I'll be back in early March to report the latest activity in Wells Branch area for Sold homes in February. I am confident that the market will be even better! Please feel free to check back. I will be posting a market update monthly to keep you updated!
Visit our market insider to look up community profile and search homes for sale in Wells Branch or Other Areas in Austin, TX
** Source of raw data: Austin MLS system **
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Pioneer Crossing Subdivision, Austin Texas Real Estate Market Report for January, 2012. How time flies, its already February, 2012. In an effort to update you of the real estate market in Pioneer Crossing Subdivision, I will post a monthly report of SOLD, under contract and currently listed for Sale in the Pioneer Crossing Subdivision. I will update this blog monthly so you and I will have a good idea of the market.
So here we go!
No. of homes Sold in Jan, 2012 = 3
Out of 3 sold homes, 2 are resale and 1 is a new home built by DR Horton
Both resale home was sold for $155,000.00; Average sales price is $155,000.00;
Price per square foot of sold resale home is between $82 and $88 per SF;
A new home was sold for $185,000.00, 1,927 square ft,SF, that is $8/SF higher than the sold resale home.
The average days in market of SOLD homes is 80 days.
No. of homes under contract in Jan, 2012 = 5
Average under contract sales price = $149,100.00
Lowest under contract price = $130,000.00
Highest under contract price = $169,900.00
All under contract homes are resale, no new home at this time.
No. of homes currently listed for sale in Pioneer Crossing West Subdivision in Austin, Texas = 15
There are 9 resale homes and 6 newly built homes by DR Horton;
Resale homes are listed from $146,000 - $187,000.00
New homes are listed from $178,000 - $212,000.00
So what does all this data mean to you as a consumer?
Great questions! These data are very useful to guide us to see how the market is doing in a certain area, in this case in Pioneer Crossing West Subdivision, in Austin Texas. Often times, the Sellers have a price on top of their head, that is the price that they wanted to sell their house for. Unfortunately in this market, the property is only worth what the buyers are willing to pay. In this case, the Seller should pay attention to the sold data, if the Seller is serious about selling, they should stay with in the range of sold price, typically the price per square foot, unless the property have something compelling to offer, for example a beautiful swimming pool, greenbelt view, etc. Features that are rare and adds value to the property.
So what does the "under contract" data tell us?
The under contract (or contract pending) homes are the homes that the buyers committed to buy and are in the process of closing the deal.
The home prices in this category (or status) are what the buyers are willing to look at and start negotiating, in a typical market like Pioneer Crossing West, homes are usually sold lower than the pending status price. This data will become part of the SOLD home in my report to you in early March for the February market report.
What is the SOLD to Active ratio in Pioneer Crossing West?
At this time, there is 1 sold home for every 5 active homes. We call it the Real Estate Absorption Rate. In this case the Absorption rate in Pioneer Crossing West is 20%. This is a little low considering the great location and what it offers. Well, you already know what's going on with the mortgage industry now a days don't you? But still, the interest rates are very low, if you are considering buying a home at this time, you should definitely consider the Pioneer Crossing West Subdivision in Austin Texas. It is only about 10-15 minutes from down town, great location, near major highways, shopping , dining, major emplyers and schools!
So let's see what the market in Pioneer Crossing Subdivision will bring us next month. Please feel free to check back later. I will be posting a market update monthly to keep you updated!
Pioneer Crossing Subdivision, Austin Texas Real Estate Market Report for January, 2012
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Offered by Sam Gabilagon & Ron Pilsner of RSVP Realty One, LLC - 512. 784. 4111 & 512. 507. 3710
16705 Cypress Landing Cove, Waters Edge @ Avery Ranch East- Green belt lot at the end of Cul-de-sac.
This one of a kind 2 story home in Waters Edge Community in Avery Ranch East, in NW Austin, Texas, boasts 3 large bedrooms with study, 4 sides stone exterior that backs up to a nature preserve greenbelt lot. Oversized covered patio with iron railings, cable outlets, 2 ceiling fans and natural gas outlet for your outdoor grilling!
This beautiful home is surrounded by mature oak trees and established landscaping at the end of a cul-de-sac with plenty of parking for your guests. 3 car garage with remote opener and a huge storage bay ( a small boat will fit in this bay) behind the 3rd car garage with door that opens to the backyard makes this a great utility home for your family!
Foyer with high ceilings.
Living room that opens to the kitchen overlooking a greenbelt with oversized windows and custom drapes. Floor to ceiling stone fireplace.
Open concept kitchen with utility desk flows nicely to the breakfast area and easy access to the patio.
Built in oven and microwave, Quartz (stone) counter top with island.
Foyer and formal dining view from the game room in the 2nd floor.
Relaxing master bedroom with flex room occupies the whole back side of the 2nd floor.
Oversized covered patio with iron railings looking at the green belt area through a wrought iron fence.
Great size backyard with wrought iron fence.
Waters Edge Community entrance in the East Side of Avery Ranch.
Hike and Bike trail through out the neighborhood will keep you healthy through out the year!
Excellent Round Rock ISD Schools:
Patsy Sommer Elementary School
2011 Wells Branch 4th of July Celebration and Family Activities (Fourth Fest)
By: Sam Gabilagon of RSVP Realty One, LLC (Ph# 512-784-4111)
The best thing about living in Wells Branch area aside from its central location is their year round activities, and July the fourth celebration is no different.
There will be a traditional parade (with floats sponsored by different organizations) that will start (and ends) at Wells Branch Community Center, in Katherine Fleischer Park (2106 Klattenhoff Dr. Austin, TX 78728) that start at 10am on july 4, 2011. Followed by various Children and family activities, food, music and games through out the day!
Games by the pool
Kiddy Train
Miss Jelly Bean Baloon Clown
Caricature Artist
Inflatables
Fireworks:
Sadly, due to severe dry condition in Travis County, the City of Austin is NOT able to issue any fireworks (display) permit with in Travis Co and Austin City limits. This is a big bummer, Wells Branch always has fireworks display that draws a lot of audience even from people living outside of Wells Branch area. Hope fully, there will be fireworks discplay next year!
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Principal Broker for RSVP Realty One in Austin, Texas Specializing in Residential Home Sales and Leasing. Market Area: Austin, Cedar Park, Leander, Round Rock, Pflugerville, Manor, Texas
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