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Kelley Menefee, Realtor Cell 512-736-0822 Office 512-410-6850 Fax 512-623-6516 kmenefee@kw.com

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Austin Home Sales Trends August 2011

by Mark Menefee
September 7th, 2011

Austin Home Sales Trends August 2011

Austin Houses for Sale

As of Wednesday, September 07, 2011 there are 3,277 Austin houses for sale.  These Austin homes have been active on the Austin real estate market an average of 106 days with an average list price of $540,046 or $173.37 per square foot.  Using the price per square foot is one of the easiest ways to establish the value of a Austin house.  However, in doing that you want to try and establish the average price per square foot for homes similar to yours that are located in the same or a similar Austin subdivision.  Currently listed Austin houses for sale average 2,661 square feet in size.  The smaller the home generally the higher the price per square foot for homes in similar condition.  This does not always hold true, especially when you get into the luxury home market with many custom features or high end amenities.  The prices for homes currently active on the market range from a low of $10,000 to a high of $12,000,000 .  Prices range from $4.48  to a high of $3,082.32  per square foot.  The median price per square foot for Austin houses for sale is $136.92, which is more indicative of current values than the low and high price per square foot.    Austin homes have been active on the market anywhere from 0 to 1,338 days.  However, the best guide to Austin home values is from actual home sales data.

Austin Home Sales and Trends

Austin home sales information is compared to the same month in the prior year to assist in determining price trends.  The comparison is made with the same month in the prior year due to fluctuations based on the time of year.  Sales generally rise and fall in the same periods or months each year, so one of the best comparisons for sales trends is to look at the same month in the prior year.    The number of Austin houses sold in August showed a significant increase from August of last year.  The average sales price per square foot saw a slight decrease, and the average list price per square foot displayed a slight decrease.  Additionally, the average number of days for Austin homes to be active on the market showed a noticeable decrease.

Specifically, sales of single family Austin homes saw a significant increase of 23.60% from 644 to 796 homes sold from August of last year to August of this year.  The average sales price showed a noticeable decrease of 6.00% from $341,524  to $321,042 .  The median sales price went from $265,850  to $251,000 .  The average sales price per square foot for Austin displayed a slight decrease of 1.62% to $140.46 .  The median sales price pres square foot for August was $121.81 .   The average sales price was 96.76% of the listing price, essentially no change from the same month in the prior year.  This percentage is indicative of how much the price was lowered in order to make the sale.  However, the average number of days for Austin homes to be active on the went from 69 to 64 for a noticeable decrease of 7.25%.  As the number of days a home is on the market decreases it is indicative of the market heating up, and houses moving more quickly.  If you would like assistance in locating a home or determining the value of a home please contact Kelley Menefee, Realtor with Keller Williams Realty at 512-736-0822 or request a free no obligation Market Analysis.  Condos, townhomes, and mobile homes were not included in these statistics.  Statistics are from the Austin Board of Realtor’s Multiple Listing Service provided courtesy of MyFreeHomeSearches.com.

Austin Area Homes For Sale

Categories Austin, Austin home sales, Austin home values
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Austin Home Sales Trends August 2011

by Mark Menefee
September 7th, 2011

Austin Home Sales Trends August 2011

Austin Houses for Sale

As of Wednesday, September 07, 2011 there are 3,277 Austin houses for sale.  These Austin homes have been active on the Austin real estate market an average of 106 days with an average list price of $540,046 or $173.37 per square foot.  Using the price per square foot is one of the easiest ways to establish the value of a Austin house.  However, in doing that you want to try and establish the average price per square foot for homes similar to yours that are located in the same or a similar Austin subdivision.  Currently listed Austin houses for sale average 2,661 square feet in size.  The smaller the home generally the higher the price per square foot for homes in similar condition.  This does not always hold true, especially when you get into the luxury home market with many custom features or high end amenities.  The prices for homes currently active on the market range from a low of $10,000 to a high of $12,000,000 .  Prices range from $4.48  to a high of $3,082.32  per square foot.  The median price per square foot for Austin houses for sale is $136.92, which is more indicative of current values than the low and high price per square foot.    Austin homes have been active on the market anywhere from 0 to 1,338 days.  However, the best guide to Austin home values is from actual home sales data.

Austin Home Sales and Trends

Austin home sales information is compared to the same month in the prior year to assist in determining price trends.  The comparison is made with the same month in the prior year due to fluctuations based on the time of year.  Sales generally rise and fall in the same periods or months each year, so one of the best comparisons for sales trends is to look at the same month in the prior year.    The number of Austin houses sold in August showed a significant increase from August of last year.  The average sales price per square foot saw a slight decrease, and the average list price per square foot displayed a slight decrease.  Additionally, the average number of days for Austin homes to be active on the market showed a noticeable decrease.

Specifically, sales of single family Austin homes saw a significant increase of 23.60% from 644 to 796 homes sold from August of last year to August of this year.  The average sales price showed a noticeable decrease of 6.00% from $341,524  to $321,042 .  The median sales price went from $265,850  to $251,000 .  The average sales price per square foot for Austin displayed a slight decrease of 1.62% to $140.46 .  The median sales price pres square foot for August was $121.81 .   The average sales price was 96.76% of the listing price, essentially no change from the same month in the prior year.  This percentage is indicative of how much the price was lowered in order to make the sale.  However, the average number of days for Austin homes to be active on the went from 69 to 64 for a noticeable decrease of 7.25%.  As the number of days a home is on the market decreases it is indicative of the market heating up, and houses moving more quickly.  If you would like assistance in locating a home or determining the value of a home please contact Kelley Menefee, Realtor with Keller Williams Realty at 512-736-0822 or request a free no obligation Market Analysis.  Condos, townhomes, and mobile homes were not included in these statistics.  Statistics are from the Austin Board of Realtor’s Multiple Listing Service provided courtesy of MyFreeHomeSearches.com.

Austin Area Homes For Sale

Categories Austin, Austin home sales
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Round Rock Homes For Sale as of 8/30/2011

by Mark Menefee
August 30th, 2011

Round Rock Homes For Sale as of 8/30/2011

Currently there are 679  Round Rock homes for sale.  These properties have been active on the market an average of 82 days with the oldest property having been on the market 427 days.  The current average listed price for a Round Rock home for sale is $213,679  or $87.93  per square foot.  The median price is $189,500  with a median price per square foot of $85.54 .  The average number of square feet for a home listed for sale in Round Rock is 2,420 square feet.  Generally the smaller the home, the higher the price per square foot for homes in similar condition in the same general location.  This does not always hold true, especially when you get into the luxury home market with many custom features or high end amenities.  The prices for homes currently active on the market range from a low of $57,500  to a high of $1,900,000 .  Prices range from $37.87  to $543.48  per square foot.  The best guide to home value is from actual home sales.  Check out our other blog posts that provide recent sales data.  If you would like assistance in locating a home or determining the value of a home please feel free to contact Kelley Menefee at 512-736-0822 or request a free no obligation Market Analysis.  The data above was pulled from the Austin Area Board of Realtor’s multiple listing service.  Analysis provided courtesy of  MyFreeHomeSearches.com.

Austin Area Homes For Sale

Categories General Info, Round Rock
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Contingency Offers – Pros and Cons for Both the Buyer and Seller

by Mark Menefee
August 25th, 2011

Contingency Offers – Pros and Cons for Both the Buyer and Seller

Contingency offers to purchase a home are predicated on another event occurring, generally the sale of the buyer’s home by another party.  This is generally not very advantageous for the seller but a very good protective arrangement for the buyer.

Buyer Benefits – Buyer’s often will locate the perfect home before they have completed the sale of their current residence.  By placing an offer on the new home that is contingent on the sale of their current home they are protecting themselves from ending up with two mortgage payments.  This does really protect them from that scenario quite well.  Occasionally, you will see a contingency offer based on something else like receiving a settlement check from an insurance company, but this is relatively rare.

Buyer Negatives – While a contingency offer does protect the buyer, it also greatly reduces their negotiating power or position.  A contingency offer will almost never be considered as strongly as a non-contingent offer.  Additionally, a seller is much less likely to reduce their price, or to reduce it as much for a contingent offer.  Why would you cut your price for something that might happen?  You may partially overcome this issue by requiring  a short term contingency period.

Seller Benefits – There are not a lot of benefits for a seller unless it is currently a buyer’s market and the home has been on the market for a long period already.  Additionally, if the property may only appeal to a small subset of buyers it may be a consideration.  If the property has been on the market for a long time a valid contingency offer with a realistic chance of success may be worth the risk.  Evaluate the chances of the contingency occurring within the contingency period with your realtor.  Determine if the buyers are waiting on the sale of their home, whether it is located in a hot area, do they have an offer, have they accepted the offer, has the inspection been completed and accepted, has the financing been secured, and do they have a closing date yet.  Each of these steps that have been completed should increase your interest in considering a contingency offer.  Your realtor should be able to help you evaluate the likely hood of the contingency occurring within the contingency period.  The length of the contingency period is also a consideration, as the shorter the period, the less it will negatively impact your opportunity to sell the property to another buyer.  Additionally, because it is a contingency offer you are in a better position to negotiate a higher sales price.

Seller Negatives – A contingency offer is betting on a specific set of circumstances to occur within a specified time period, a gamble.  Gambling is generally not something we want to do when selling our home.  If the buyer has to sell their home first you are betting on a long string of circumstances occurring within a certain time period.  Not a good bet.  You are betting on a buyer finding and liking the other home, submitting and offer on the other home, two inspections going well, two negotiations for repairs working out, two sets of financing being approved, two title policies being issued, and finally two closing going off without a hitch.  On top of all of these maybes you realistically have the house off the market where no one else will consider purchasing it.   While the home is listed active contingent in MLS most real estate agents will pass up showing these homes to clients which effectively takes your house off the market.  There are a variety of reasons for this, but one of the main reasons may be the right of first refusal.  If their buyer loves your home and wants to purchase it there is a longer waiting period for an answer that well may be negative.  The original buyers making the contingency offer generally have a set amount of time to make up their minds whether to drop the contingency and move ahead with the purchase, or let you sell the home to the new buyers.  This extra 24 to 48 hours is not something other agents necessarily want to deal with as an added variable that could sour the deal.  There is an extra consideration for the seller in this.  What if the buyers drop their contingency and agree to move forward with the sale?  The sale may still fall through.  Without the sale of their other home there is a significant chance they will not qualify for financing your home.  Now the house has been off the market and you have missed out on a bonifide offer.

In general, contingency offers are not really very good for buyers or sellers.  However, each case needs to be individually reviewed in detail with your realtor.  There are instances where a contingency offer may make sense for both the buyer and seller.  If you would like to review a specific situation regarding Austin area real estate please feel free to contact Kelley Menefee at 512-736-0822 or visit us at http://MyFreeHomeSearches.com.

Austin Area Homes For Sale

Categories General Info
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Cedar Park Home Sales Trends June to July 2011

by Mark Menefee
August 24th, 2011

Cedar Park Home Sales Trends June to July 2011

Cedar Park Home Sales Trends

Cedar Park home sales information is compared month to month to assist in determining price trends.  A month to month comparison is indicative of whether the market is becoming hotter or colder.  The number of Cedar Park houses sold in July showed a significant decrease from June.  The average sales price per square foot saw a slight increase, and the average list price per square foot displayed a slight increase.  Additionally, the average number of days for Cedar Park homes to be active on the market showed a significant decrease.

Specifically, sales of single family Cedar Park homes saw a significant decrease of 10.40% from 125 to 112 homes sold from June to July of this year.  The average sales price showed a moderate increase going from $219,628  to $226,235  a change of 3.01%.  The average sales price per square foot for Cedar Park displayed a slight increase of 2.47% to $90.53 .   The average sales price was 97.60% of the listing price, essentially no change from the prior month.  This percentage is indicative of how much the price was lowered in order to make the sale.  However, the average number of days for Cedar Park homes to be active on the went from 69 to 51 for a significant decrease of 26.09%.  As the number of days a home is on the market decreases it is indicative of the market heating up, and houses moving more quickly.

Cedar Park Houses for Sale

As of Wednesday, August 24, 2011there are 430 Cedar Park houses for sale.  These Cedar Park homes have been active on the Cedar Park real estate market an average of 80 days with an average list price of $252,599 or $97.23 per square foot.  Currently listed Cedar Park houses for sale average 2,600 square feet in size.  The smaller the home, generally the higher the price per square foot for homes in similar condition.  This does not always hold true, especially when you get into the luxury home market with many custom features or high end amenities.  The prices for homes currently active on the market range from a low of $89,000 to a high of $999,777 .  Prices range from $49.21  to a high of $504.94  per square foot.  The median price per square foot for Cedar Park houses for sale is $94.62    Cedar Park homes have been active on the market anywhere from 1 to 532 days.  To see actual listings visit MyFreeHomeSearches.com.  If you would like personal assistance in locating a home or determining the value of a home please contact Realtor, Kelley Menefee at 512-736-0822 with Keller Williams Realty.   Condos, townhomes, and mobile homes were not included in these statistics.

Austin Area Homes For Sale

Categories Cedar Park
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Cypress Canyon Homes Sold January thru June 2011

by Mark Menefee
August 18th, 2011

Cypress Canyon Homes Sold January thru June 2011

Cedar Park Homes for Sale Sold in Cypress Canyon for the First Half of 2011

In Cypress Canyon, from 1/1/2011 to 6/30/2011   15 homes were sold ranging in price from a low of $164,000  all the way up to $538,800  with an average sales  price of $332,232  and a median sales price of $377,070 .  The average price per square foot for a Cypress Canyon home for sale was $108.40  with a range from a low of $84.02  up to $131.75  per square foot.  The sales price averaged 96.02% of the list price for homes sold in Cypress Canyon.  In other words this is the average percentage homeowners had to reduce the sales price from the current listing price to achieve the sale of their Cypress Canyon home.  The average number of days on the market was 103 with the fastest sale taking 13 days.  The home on the market the longest before being sold was listed for 488 days.  The most recent sale prices are the best way to determine the value of a home you may want to sell or purchase.  However, values vary greatly based on neighborhood, location, condition and many other factors.  If you would like assistance in determining the value of a home please feel free to contact Kelley Menefee at 512-736-0822 or request a free no obligation Market Analysis to learn the true value of your home.  The data above was pulled from the Austin Area Board of Realtor’s multiple listing service.  Analysis provided courtesy of   MyFreeHomeSearches.com.  See current Cypress Canyon homes for sale.

Austin Area Homes For Sale

Categories Cedar Park
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Crossing at Carriage Hills Sales January thru June 2011

by Mark Menefee
August 18th, 2011

Crossing at Carriage Hills Sales January thru June 2011

In Crossing at Carriage Hills, from 1/1/2011 to 6/30/2011   18 homes were sold ranging in price from a low of $80,000  all the way up to $180,000  with an average sales  price of $136,525  and a median sales price of $134,125 .  The average price per square foot for a Crossing at Carriage Hills home for sale was $73.06  with a range from a low of $37.51  up to $97.11  per square foot.  The sales price averaged 95.61% of the list price for homes sold in Crossing at Carriage Hills.  In other words this is the average percentage homeowners had to reduce the sales price from the current listing price to achieve the sale of their Crossing at Carriage Hills home.  The average number of days on the market was 59 with the fastest sale taking 10 days.  The home on the market the longest before being sold was listed for 139 days.  The most recent sale prices are the best way to determine the value of a home you may want to sell or purchase.  However, values vary greatly based on neighborhood, location, condition and many other factors.  If you would like assistance in determining the value of a home please feel free to contact Kelley Menefee at 512-736-0822 or request a free no obligation Market Analysis to learn the true value of your home.  The data above was pulled from the Austin Area Board of Realtor’s multiple listing service.  Analysis provided courtesy of   MyFreeHomeSearches.com.  See current Crossing at Carriage Hills homes for sale.

Austin Area Homes For Sale

Categories Cedar Park
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Twin Creeks Country Club Homes Sold January thru June 2011

by Mark Menefee
August 18th, 2011

Twin Creeks Country Club Homes Sold January thru June 2011

Cedar Park Homes for Sale sold in Twin Creeks Country Club for the First Half of 2011

In Twin Creeks Country Club, from 1/1/2011 to 6/30/2011   25 homes were sold ranging in price from a low of $197,000  all the way up to $565,000  with an average sales  price of $332,532  and a median sales price of $305,000 .  The average price per square foot for a Twin Creeks Country Club home for sale was $106.73  with a range from a low of $77.24  up to $139.36  per square foot.  The sales price averaged 96.92% of the list price for homes sold in Twin Creeks Country Club.  In other words this is the average percentage homeowners had to reduce the sales price from the current listing price to achieve the sale of their Twin Creeks Country Club home.  The average number of days on the market was 89 with the fastest sale taking 2 days.  The home on the market the longest before being sold was listed for 265 days.  The most recent sale prices are the best way to determine the value of a home you may want to sell or purchase.  However, values vary greatly based on neighborhood, location, condition and many other factors.  If you would like assistance in determining the value of a home please feel free to contact Kelley Menefee at 512-736-0822 or request a free no obligation Market Analysis to learn the true value of your home.  The data above was pulled from the Austin Area Board of Realtor’s multiple listing service.  Analysis provided courtesy of   MyFreeHomeSearches.com.  See current Twin Creeks Country Club homes for sale.

Austin Area Homes For Sale

Categories Cedar Park
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Red Oaks Homes Sold January thru June 2011

by Mark Menefee
August 18th, 2011

Red Oaks Homes Sold January thru June 2011

Cedar Park Homes for Sale sold in Red Oaks for the First Half of 2011

In Red Oaks, from 1/1/2011 to 6/30/2011   18 homes were sold ranging in price from a low of $187,000  all the way up to $440,000  with an average sales  price of $285,287  and a median sales price of $259,932 .  The average price per square foot for a Red Oaks home for sale was $97.46  with a range from a low of $80.29  up to $125.14  per square foot.  The sales price averaged 93.29% of the list price for homes sold in Red Oaks.  In other words this is the average percentage homeowners had to reduce the sales price from the current listing price to achieve the sale of their Red Oaks home.  The average number of days on the market was 55 with the fastest sale taking 2 days.  The home on the market the longest before being sold was listed for 172 days.  The most recent sale prices are the best way to determine the value of a home you may want to sell or purchase.  However, values vary greatly based on neighborhood, location, condition and many other factors.  If you would like assistance in determining the value of a home please feel free to contact Kelley Menefee at 512-736-0822 or request a free no obligation Market Analysis to learn the true value of your home.  The data above was pulled from the Austin Area Board of Realtor’s multiple listing service.  Analysis provided courtesy of   MyFreeHomeSearches.com.  See current Red Oaks homes for sale.

Austin Area Homes For Sale

Categories Cedar Park
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Ranch at Cypress Creek Homes Sold January thru June 2011

by Mark Menefee
August 18th, 2011

Ranch at Cypress Creek Homes Sold January thru June 2011

Cedar Park Homes for Sale sold in Ranch at Cypress Creek for the First Half of 2011

In Ranch at Cypress Creek, from 1/1/2011 to 6/30/2011   26 homes were sold ranging in price from a low of $140,000  all the way up to $225,000  with an average sales  price of $183,011  and a median sales price of $182,250 .  The average price per square foot for a Ranch at Cypress Creek home for sale was $81.52  with a range from a low of $55.88  up to $110.37  per square foot.  The sales price averaged 97.21% of the list price for homes sold in Ranch at Cypress Creek.  In other words this is the average percentage homeowners had to reduce the sales price from the current listing price to achieve the sale of their Ranch at Cypress Creek home.  The average number of days on the market was 71 with the fastest sale taking 1 days.  The home on the market the longest before being sold was listed for 222 days.  The most recent sale prices are the best way to determine the value of a home you may want to sell or purchase.  However, values vary greatly based on neighborhood, location, condition and many other factors.  If you would like assistance in determining the value of a home please feel free to contact Kelley Menefee at 512-736-0822 or request a free no obligation Market Analysis to learn the true value of your home.  The data above was pulled from the Austin Area Board of Realtor’s multiple listing service.  Analysis provided courtesy of   MyFreeHomeSearches.com.  See current Ranch at Cypress Creek homes for sale.

Austin Area Homes For Sale

Categories Cedar Park
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