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Oak Forest Subdivision, Austin, TX

How have home values in the Oak Forest Subdivision faired as compared to prior years? Oak Forest which is located just off Highway 183 on Oak Knoll Drive in Northwest Austin, east of Great Hills, and south of Balcones Village, many of the homes were built in the mid 70's. Oak Forest has sought after Round Rock ISD Exemplary Elementary School, Caraway Elementary which is located on the western edge of the subdivision.

On average the homes located in Oak Forest have seen the values increase by 3.03% annually since 2000. Although in 2009 Oak Forest experienced a decrease in home values as a result of the slowing national economy and its effects on the Austin housing market. Oak Forest has experienced a decrease of -5.17% in value as compared to 2008.

Currently there are 6 homes on the market in Oak Forest with an Average List Price of $276,550 or a $122.71 Cost per Square Foot Price. 2 homes are Under Contract for an average list price of $294,925 or a $140.64 Cost per Square Foot Price.

19 homes have sold YTD 2009 as compared to 23 in 2008 during the same time period. 30 homes sold for an Average Sold Price of $273,385 or a $136.69 Cost per Square Foot Price in 2008. The Average Sold Price for 2009 was $259,940 or a $137.09 Cost per Square Foot Price.

Is there light at the end of the tunnel, will home prices increase? Consider the last downturn in the Austin economy, the DOT.com bust of 2003, and the Average Sold Price dropped -5.39% in 2003 but it rebounded in 2004 to 3.57%.

Also consider that the Average Square Foot Price for 2009 is up $0.40 per square foot. The homes currently Under Contract Average List Price is $294,925, and the Sales Price to List Price (SP/LP) for this area is running 97.6%, which should trend the overall average upward by year end. Finally, homes currently For Sale we see the Average List Price of $276,550 with the Average Days on Market of 49. Year end numbers should improve from the current -5.17% and 2010 should be a rebound year fro Oak Forest as well.

We all want good service, right? Sure we do, but how often do we get customer service that blows your socks off? One day a few weeks ago I needed to take my newly adopted dog, Patches, to the groomer to get a puppy cut and a bath.

Pet grooming is not at the top of my list of things to do, so I was really not looking forward to this. The reservation we had for a cut and bath for Patches was with a national pet chain. We had a 1:00 PM appointment and we arrived by 1:05 PM by my watch. The lady at the counter looked at me and said, "sorry, but we will need to reschedule your dog." Yea right!

After leaving and heading home I thought about a place we had driven by several times that was not too far from where we live called Clean Puppy Pet Grooming off Jollyville Road. Since we were on our way home I decided to take Patches in to see if they could work him in. When I arrived Stephanie Liao greeted us and she was so friendly. Genuinely friendly, seriously! She wanted to know more about Patches and she said he would be ready in about an hour and a half. She said she would even call me when he is ready, and she did call me. Talk about service! I am so impressed with her attitude! She has my business!

I found out later Stephanie was the owner and she just started her business. Her place was very clean and she was very professional. She was very interested in knowing more about my dog, which was good to know. So if you live on the NW side of Austin and you need to have your dog groomed, you need to give her a call. Check out her web site, I have placed a link, you will get a coupon for $5.00 off.

http://cleanpuppypetgrooming.com/services.html

This year, 30 properties have sold in Oak Forest Subdivision. The sales ranged from $196,900 to $355,000 with the average being $273,383 or $136.69 per sq. ft. Currently, there are six homes on the market for an average price of $286,617 or $138.67 per square foot.

During 2007, 49 properties sold for an average price of $265,252 which is $133.55 per sq. ft. The time to sell during 2008 for the 30 properties that sold was 48 days. For 2007, it took an average of 41 days for the 49 properties to sell. For 2008, the average days on the market for the Austin Metro area was 70 days. So the time for properties to sell in Oak Forest was quite impressive. Being a area resident, it is great to see this activity and that the prices are holding strong. This is both a reflection of the strength of the Austin real estate market and how desirable this close in area is.

Mary "B" Battaglia GRI, CRS

Austin, Texas

So far this year, 23 properties have sold in Oak Forest Subdivision. The sales ranged from $212,000 to $355,000 with the average being $266,335 or $138 per sq. ft. Currently, there are 7 homes on the market for an average price of $278,457 which is $142.08 per sq. ft.

This time last year 45 properties had sold for an average price of $262,563 which is $134.13 per sq. ft. The time to sell has increased slightly from 41 days on the market last year to 45 days this year. Being a resident, it is good to see that although activity is reduced, the prices and marketing times are holding strong. This is both a reflection of the strength of the Austin real estate market in general and how desireable this area is, being close in and a part of the Round Rock ISD as well.

Mary "B" - Austin Real Estate

Referrals Appreciated!

www.maryb.com