![]() |
|
![]() |
|
|

Georgetown, Texas is an Austin suburb located in Williamson County. The population is estimated to be near 50,000 in 2008. Georgetown is considered part of the Austin-Round Rock Metro area.

Georgetown is the county seat of Williamson County. The city has one of the best preserved Victorian-era downtown historic districts in the US, earning the title of "National Main Street" for its Main Street. Georgetown also has many natural attractions, with popular recreation sites such as Lake Georgetown and Inner Space Caverns.

Georgetown also has one of the best public school programs in the nation, with several schools receiving Recognized and Exemplary status. Georgetown public schools spend $5,573 per student. The average school expenditure in the U.S. is $6,058. There are about 14 students per teacher in Georgetown. The schools are great in certain programs, such as GT honors, and special ed. Parental involvement is very high.
The median home cost in Georgetown is $220,100. Home appreciation the last year has been 1.68 percent
The quality of life is great in Georgetown. It is a great city to raise a family because there is a real sense of community present. New retail shops, restaurants, and entertainment venues are cropping up. Crime rates are low, and the tax rates are low for the Austin area.
Lake Georgetown is a popular lake in Georgetown the area as well as the nearby hill-country neighborhoods on the west side of the city. The area has a nationally acclaimed hike and bike trail.
![]() |
|
|
Below you will find the current market activity for Serenada. Feel free to contact me if you have a particular buyer need (I often know of properties not yet on the market). Also, if you would like for me to provide you a Seller's Market Analysis -- I am happy to do so!
SERENADA COUNTRY ESTATES/SERENADA WEST
Average Days on Market: 41
SERENADA EAST
Average Days on Market: 77
![]() |
|
|
Below you will find the sales and market data for Georgetown Village -- including current market and solds. Please keep in mind that this is general information -- each home is different and will bring a different value in today's market. If you have specific questions about absorption rates, a particular property, or neighborhood within Georgetown Village -- please feel free to contact me directly at klombar@kw.com.
ACTIVE MARKET
PENDING/PENDING TAKING BACK-UPS
SOLD
Average days on market: 72
![]() |
|
|
Well, so Lehman Brothers could not find a buyer in the 11th hour and filed for Bankruptcy. No big surprise - we've been saying "Garbage in - Garbage out" for a couple decades now...In this case, we're not talking about computers. The "garbage in" is the ridiculous loans that have been made.
You can always expect this kind of thing when people are making big money without having to be smart.
Think about it. During the height of the real estate boom, my phone was ringing off the hook with people identifying them as "real estate investors." They were always looking for property where they could borrow 103% and cash flow with a tenant in the house. Never once did I take a bite of the tempting fruit of the out of state "investor." Californians were amazed at how cheap homes are here in Georgetown (or the Austin area) and would buy anything. I heard stories of investors buying up city blocks of new construction.
Perhaps this is how Lehman Brothers ended up with $60 Billion (with a "B") in bad loans (according to the news report I heard on the radio today).
Does this remind anyone of the tech bubble in the stock market? I remember people going nuts on day trading. And with everything going up and up and up, it was easy to look like a genius. This is the same phenomenon that happened with real estate investing in more recent years.
The truth is that the acquisition costs are prohibitive to cash flow...unless you find a steal of a deal. And if you're being pitched a "steal," then why isn't the agent buying it?
Anyway, it was this mentality (manifest in different ways) that is driving the crisis in our financial industry right now.
So what should we expect next? More of the same. But I have to say, it is a good time to buy!
Thankfully, Austin continues to outperform the nation. Where Austin has seen the most pain has been in the luxury market, where months of inventory has been very high, and price drops are coming in big chunks.
In Georgetown, we have the same story going on. In Georgetown, I'd place the "luxury market" at anything above $500k. At the time of this post, Alamo Title Company is reporting 33.88 months of inventory in the $500-750k range in Georgetown's west side. It is a GREAT time to buy if you are shopping in that price range. However, supply and demand are MUCH more in balance in the $100k-200k market. Here's the grid:
| GTW | ||||||
| Price Range | # of Solds | Avg Sales Price | Avg DOM | Current Actives | Avg. # of Solds | Months of Inventory |
| < 100,000 | 6 | $80,258 | 5 | 0.50 | 10.00 | |
| 100-149,999 | 116 | $134,769 | 10.37 | 44 | 9.67 | 4.55 |
| 150-199,999 | 203 | $173,706 | 17.13 | 77 | 16.92 | 4.55 |
| 200-299,999 | 267 | $240,416 | 14.42 | 152 | 22.25 | 6.83 |
| 300-399,999 | 97 | $349,229 | 19.05 | 96 | 8.08 | 11.88 |
| 400-499,999 | 43 | $443,401 | 29.09 | 65 | 3.58 | 18.16 |
| 500-749,999 | 22 | $577,134 | 20.45 | 62 | 1.83 | 33.88 |
| 750-999,999 | 4 | $859,475 | 57.00 | 20 | 0.33 | 60.61 |
| > 1 Million | 4 | $4,011,420 | 14 | 0.33 | 42.42 | |
| Total |
762 | $263,373 | 16.15 | 535 | 63.50 | 8.43 |
The idea behind "months of inventory" is basically to provide a simple answer to this question: How long would it take to sell off the current listings at the rate we've been selling over the previous 12 months if no new listings were added to the market. You can see, we have a lot of high end inventory here.
No analysis of Georgetown would be complete without a look to what is east of the interstate:
| GTE | ||||||
| Price Range | # of Solds | Avg Sales Price | Avg DOM | Current Actives | Avg. # of Solds | Months of Inventory |
| < 100,000 | 32 | $74,313 | 12.59 | 7 | 2.67 | 2.62 |
| 100-149,999 | 118 | $127,112 | 8.80 | 40 | 9.83 | 4.07 |
| 150-199,999 | 103 | $170,405 | 12.42 | 50 | 8.58 | 5.83 |
| 200-299,999 | 32 | $232,772 | 34.91 | 28 | 2.67 | 10.49 |
| 300-399,999 | 9 | $347,044 | 14 | 0.75 | 18.67 | |
| 400-499,999 | 3 | $444,063 | 2 | 0.25 | 8.00 | |
| 500-749,999 | 1 | $675,000 | 7 | 0.8 | 87.50 | |
| 750-999,999 | 1 | $991,587 | 4 | 0.8 | 50.00 | |
| > 1 Million | ||||||
| Total |
299 | $162,207 | 12.83 | 152 | 24.92 | 6.10 |
Most of the higher price range properties in GTE will be rural homes with acreage or restored Victorian homes in "Old Town." The lions' share of what trades on the east side are homes priced at $300k or less. Generally, land on the east side has been cheaper for developers to acquire. This allows them to price lots at a lower price, and ultimately you have more affordable homes. That said, the east side offers some great value, as well as convenience, proximity to the park and downtown.
Well, I suppose I'm packing too much into this blog, so I'll go ahead and use this as my stopping point.
Russell Phillips can be found at www.GeorgetownRealEstateExpert.com/blog.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2008 ActiveRain Corp. All Rights Reserved