This year is now over a quarter of the way through, giving us the perfect opportunity to review the real estate market trends in Round Rock Ranch during that period. I will look at how the real estate market in Round Rock Ranch has performed versus the last 3 months of 2012 (the 4th quarter, Q4) and versus the same 3 months in 2012 that we just finished in 2013 (January-March, Q1). For each of these time periods, we will look at the number of homes sold, the average sales price, the average price per square foot and the average days on market (DOM).
In the first 3 months of 2013 (Q1), 10 homes were sold in Round Rock Ranch. In Q4 of 2012, 12 homes sold and 8 homes sold in Q1. The changes in 2013 are not very high or low and represent a very steady market throughout the past 15 months.
While the number of homes sold did not vary much, the last 3 months saw a significant increase in the average sales price. The avg. sales price was $162,430 in 2013 Q1, a 2.3% increase over Q4 of 2012 and a 11.7% increase over Q1 of 2012.
The sales price can give a fairly good representation of a market’s trends, but perhaps nothing is so telling as changes in the average price per square foot ($/SqFt). The average $/SqFt was $82.39 in Q1 of 2013; this is a 8.6% increase over Q4 of 2012 and a 4.6% increase over Q1. To put it in perspective, the average $/sqft was almost $7 more than during the last 3 months of 2012!
The average days on market (DOM – the average amount of time a home is on the market before selling) increase slightly in 2013. In Q4 of 2012 it was 43 days and it was 38 days in Q1 of 2012. The average DOM climbed to 50 in the last 3 months, but I don’t think this is a substantial difference – mainly because there are 1 or 2 sales in 2013 which are skewing the average higher.
In summary, it seems that the real estate market in Round Rock Ranch is strong and is seeing gradual, sustained growth. I would expect the trends to continue through 2013. If you potentially looking to sell you home in Round Rock Ranch this year, I would expect to sales prices to continue to rise through the end of 2013 because of the strong demand and limited inventory. You have chosen a great time to sell! Drop me a note
to learn about how my progressive marketing plan can go to work for you!
by Kyle Pfaffe, REALTOR® e: KylePfaffe@kw.com m: 512-636-9707 w: AustinHomes4You.com
The Kyle Pfaffe Real Estate Team