Record Breaking Year for Milwood in 2013!

The real estate market in Milwood has seen consecutive years of growth in 2011, 2012 and 2013, but 2013 was more than just a good year, it was a record breaking year in two key areas! Home prices have been recovering since seeing their peak in 2008 and subsequent slide, but 2013 marks the first year we are breaking pre-recession levels and the highest average sales price in Milwood EVER! The housing market in Milwood saw improvement in more than just average sales prices – here is a break down of each of the key numbers…

Historic Avg Sales Price Trend

Like noted before, the average sales price in Milwood in 2013 was higher than in 2009 ($187,945) and the highest ever. The 2009 record was actually shattered, with the average sales price for a home in Milwood coming in at $214,285, 12.4% higher than 2009 and 17.9% higher than 2012! The number of homes sold in Milwood also increased to 264, a 15.2% increase over 2012 when 229 homes sold.

The average price per square foot of homes sold usually gives us a better overall idea of appreciation/depreciation in an area that the average sales price. In 2013, the average price per square foot of a home sold in Milwood was $115.23, an increase of 9.1% over 2012 when that number was only $105.59.

The other record broken in 2013 was the average number of days each home took to sell (average DOM) in Milwood. The previous record was in 2007 when the average DOM was 30 days. That number had climbed to 58 days in 2011 and came down a lot in 2012 to 38 days. In 2013, the record set in 2007 was broken with an average DOM of only 18 days, 12 days quick than 2007 and 20 days quicker than last year!

If you would like information more specific to your home, drop me a note and I would be happy to get that for you. Thinking of selling this year and taking advantage of this record breaking market? To receive your copy of my Strategic Guide for Savvy Home Sellers – Timing the Market in 2014 fill our the form below…

by Kyle Pfaffe, REALTOR®      e: KylePfaffe@kw.com      m: 512-636-9707      w: AustinHomes4You.com
    

May 2013 Market Report for Round Rock Ranch Real Estate

May 2012 vs. May 2013

WOW! What a month! Round Rock Ranch saw a huge month of real estate activity in May! In May, 9 homes sold versus only 2 homes that sold in the subdivision in May 2012. The number of homes that sold in May is only slightly less than the total number of homes that sold in the first 5 months of 2012!  While the average sales price in May was only 2% higher than in 2012 ($156,972), overall value saw a 14% increase to $85.50 per square foot! Homes that sold in May of this year also sold in an average of only 20 days, versus the average of 52 days in 2012.

YTD 2012 vs YTD 2013

Year-to-date, 19 homes have sold in Round Rock Ranch, with an average sales price of $159,797, +8% vs 2012. Below is a chart which gives a good visual of how RRR is changing this year. The average price per square foot has increased 9% and the average days on market has shrunk 14% to 36 days.

Online Graphing

These numbers are all averages – for specific information on the value of your home, drop me a note or give me a call at 512-636-9707. This summer will certainly be a very active one in Round Rock Ranch, and, as one of your neighbors, I have a special understanding of the area and how to market to likely home buyers. If I can be of help in any way, please let me know! Also…CLICK HERE to see what other homes a for sale in our neighborhood.

by Kyle Pfaffe, REALTOR®      e: KylePfaffe@kw.com      m: 512-636-9707      w: AustinHomes4You.com

The Kyle Pfaffe Real Estate Team

Milwood Homes Are Selling Faster Than Ever in 2013!

Milwood

Milwood real estate has shown rapid growth through the first 3 months of 2013. The Austin Board of REALTORS recently finalized their statistics for January through March of this year, giving us the opportunity to look at the real estate market

In Q1 2013, the number of homes sold jumped 38.5% to 54, 15 more than last year. The largest change is the average sales price for Q1; the average home in Milwood sold for $201,752 – an 18% increase over 2012! While not as much of an increase as the average sales price, the average price per square foot increased as well. That number rose to $108.84, a +7.4% change. Perhaps the most significant change this year has been in the average amount of time a home took to sell. In Q1 of 2013, the average home in Milwood sold in only 29 days, a 56.1% decrease vs. last year when homes were on the market over 65 days on average!   in Milwood for the first quarter (Q1) for 2013 vs. the first quarter of 2012.

All of these numbers show strong growth in the Milwood real estate market, but none so strongly predict the future trends as much as the number of active listings vs last year. There are currently 16% less homes available for purchase in Milwood this year vs. 2012. Sales prices and time on the market in Q1 show how values have increased, but the number of listings suggests that low inventory and high turnover will continue to drive prices and home values up!

NOW can be a great time to sell your home in Milwood and take advantage of the strong seller’s market and added equity! If you are considering selling your home this year, drop me a note and we can discuss the value of your home and how I can help you get the most equity possible as you look to move out or move up to another home.

by Kyle Pfaffe, REALTOR®      e: KylePfaffe@kw.com      m: 512-636-9707      w: AustinHomes4You.com

The Kyle Pfaffe Real Estate Team

Round Rock Ranch Real Estate Review for First 3 Months of 2013

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

Round Rock Ranch 2012 Real Estate Market Report

How was the Real Estate Market in Round Rock Ranch for 2012?

The real estate market in the Greater Austin area and Round Rock saw some incredible growth in 2012. Round Rock Ranch also saw some growth and, after an extremely busing January, I finally had time to put this information together. The graph below gives a good summary of most of the information I have. Round Rock Ranch Real Estate

In 2012, 22.9% more homes sold in Round Rock Ranch versus 2011. While the number of homes sold increased, that growth has not yet translated to much growth in sales prices as the average sales price was $156,679 (+.8%) and the average price per square foot was $75.36 (+2.5%). Whiles values remained unchanged, the average home for sale in Round Rock Ranch sold in 5 less days in 2012 versus 2011 (41 days, -11% vs 2011).

What do these numbers mean for you if you are looking to buy or sell a home in Round Rock Ranch 2013? If you are looking to buy a home,  the number of homes on the market is shrinking and homes are selling faster so you will likely have less options and more competition from other buyers. Because homes are selling more quickly, you should also move fast to put a strong offer in once you have found a home you really like.

If you potentially looking to sell you home in Round Rock Ranch this year, I would expect to sales prices increase in 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

2012 Milwood Market Report

How Was the Market in Milwood for 2012?

The real estate market in Milwood had some tremendous growth in 2012. After a crazy January month for me, I finally had time to sit down and look at how the market performed and wanted to share some number with you. All of this information is visibly represented in the graph below. Milwood 2012

First of all, the real estate market in Milwood was much more active – 229 homes sold in 2012 vs 194 in 2011, a 18% increase. While the number of homes sold grew remarkably, the average sales price increased only 1.3% to $181,764 vs $179,476 in 2011. The average price per square foot of homes sold in 2011 was $99.68 but grew to $105.59 in 2012, an increase of almost 6%. By far, the most significant change in the Milwood real estate market in 2012 was the average time a home was on the market before it sold. The average days on market shrunk from 58 days to 38 days, a decrease of 35%.

What do these numbers mean to you if you are looking to buy or sell a home in Milwood in 2013? If you are looking to buy a home in Milwood, you will likely be paying slightly more than you would have in 2012. You will also need to be decisive and move quickly once you find a house you like – the lower number of homes on the market and quicker selling times mean your competition (other buyers) might get a home first if you’re not careful. Drop me a note if I can help you find a great home in Milwood this year.

If you are considering selling your home in the Milwood area of Austin, you should definitely be able to walk away with more money this year. If you price your home too low, you might get multiple offers as soon as you go on the market. Marketing can have a lot do with getting your home sold quickly and for the highest net to you. Drop me a note to hear about how my progressive marketing plan can go to work for you!

by Kyle PfaffeREALTOR®      e: KylePfaffe@kw.com      m: 512-636-9707      w: AustinHomes4You.com

The Kyle Pfaffe Real Estate Team