Austin West - Davenport Ranch Real Estate Market - View Austin West - Davenport Ranch Real Estate Market Trends in Texas

Winter 2012 Market Update Are you thinking about buying or selling in Austin? Please call me, I would enjoy discussing your plans and helping you any way I can. I look forward to hearing from you! Best, Marcus 512.921.3111
Average Home Price	$500,000 - View Graph Trend

Average Price Compared to Last Year	Up 0-5%

Average Time on Market	60-90 days

Best Selling Price Range	$1,000,000+

Worst Selling Price Range	$600,000 - $649,000

Prices As % of Asking Price	95-100%

Existing Home Prices for the past 90 days are?	Increasing

Market Trend	Decreasing

Buyers’ or Sellers’ Market	Equal buyers and sellers

Buyer Activity for the past 90 days in Austin West - Davenport Ranch is	Increasing

Seller Activity for the past 90 days in Austin West - Davenport Ranch is?	Increasing

Multiple Offers?	Yes

Multiple Offers Commentary	Some areas and neighborhoods have seen high activity and there is a shortage of available homes. The old real estate axiom “location, location, location” holds very true for West Austin. Each small area has its own personality and demand curve. One street, Balcones Drive for example, has had good activity while other streets near by have not. This same pattern holds true for small neighborhoods all over West Austin. Some homes in these hot neighborhoods have seen multiple offers, but this is more the exception than the rule.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?	5-10%

Is Financing Available For Qualified Buyers?	No

Comments on Financing For Qualified Buyers	Generally financing all over the US has been more difficult to get in the last year and a half. Borrowers in Austin have had the same problem. The process takes a bit longer than it has in the past, but most buyers have not problem.

Housing Inventory	Good supply - Some Prices

Inventory Comments	We have seen a very interesting shift in the market here. After the tax credit expired many of the first-time home buyers exited the market and so did all the other buyers. June and July were slow months as the activity levels were low and showings were down. However, as the summer progressed the upper-tier and vacation home buyers have re-appeared and our momentum looks to be solid. It seems as though the typical summer buying season was pushed back several months and looks as though it will continue into the fall. Many of our clients have come to a point where they feel comfortable with the market and are prepared to move forward with a purchase. We have seen a large increase in the number of transactions paid for in cash too. This was not uncommon last year, but it seems the trend has grown this year. On the whole the West Austin market, especially the luxury tier, has performed well. In several areas of West Austin the availability of homes is significantly down and some properties have seen multiple offers. Generally, inventory levels are relatively high but buyer’s have not been able to find “steal of a deal” properties, as values have held steady. Buyers have been able to enjoy the number of properties available and are taking time to find properties that fit them well. The “days on market” is down and the list to sale price has increased. These signs are very encouraging and we look forward to what the fall holds in store for us!

Greatest Activity	Repeat Buyers

Reason to Buy/Sell	Austin has done quite well in the last year. Our economic vitals are strong, companies are continuing to relocate here, our population is growing rapidly, cost of living is relatively low and we don\'t have a state income tax!

Nearest Metro Area	Austin

Housing Hot Spots	Highland Park West, Balcones, Westlake Hills and Rob Roy.

Average Sold Price	$500,000 - View Graph Trend

Austin West - Davenport Ranch Local News

Sluggish housing market in line for a better 2012, according to quarterly survey

The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.

The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.

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