About Austin's North Austin

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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Austin Real Estate Agency, has two recent northwest Austin listings, which have sold in less than fourteen days. Northwest Austin consists of neighborhoods such as Northwest Hills, Canyon Creek, Milwood, and Avery Ranch to name a few. Homes in this area tend to sell from $200,000 to $400,000. This price range had seen a dip in prices, as the 2010 First Time Homebuyer Tax Credit, helped fuel home sales in the under $200,000 price point.

But on Wednesday, the Austin American Statesman reported that home sales in Austin, were up 32 percent, from the same time last year. The Statesman also reported that median prices were down 11 percent, indicating that sales were of lower priced homes. The experience of Austin Real Estate Agency clients have been more positive. The recent sales were of homes priced over $250,000, one of which as a cash offer. The real estate recovery in northwest Austin, shows that homes in good condition, priced well, and marketed effectively will sell. Furthermore, the expediency in which these homes sold, shows that while the national market is slow to recover, Austin and particularly northwest Austin denote a stable market.

The limited selection of condos available in Northwest Austin is offset by the high quality of some of the units available. There are units priced below market and in developments planned and built by major builders.

Let me help you investigate whether these condos are right for you. Let's pour over the financials of the condo association together and run the comparables to see whether the unit is priced right and in a healthy development. Condo living isn't for everyone --- let's talk about the pros and cons and how they fit into your lifestyle</>

Here's a short list of condos for sale in Northwest Austin and neighboring areas. What do you think?

Austin Agents I have a short term (2-6 months) available for a client in transition that is located in the North Austin area just off Steck and Shoal Creek. This 3 bedroom and 2 bath home has designer stained concrete flooring in the main living area and wood flooring in the other rooms. This home has been completely updated as well. This short term lease is unfurnished. If you have the need for a short term lease please contact me directly the lease option is just coming to the market.

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