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
    

Housing Market Recap for 2013

The Austin Board of REALTORS recently released the housing market’s final statistics for 2013. The trend of strong growth continued last year with improvements in every key area of measurement. The number of homes sold in 2013 grew +19% over 2012, to 30,710 homes with an average sales price of $284,614 – 7.6% higher than last year. Two of the most significant metrics are average price per square foot – a better measurement of property appreciation than average sales price – and average day on market – the average amount of time homes sold for in Austin. The average price per square foot of homes sold in Austin in 2013 grew 9.4% versus 2012 to $133/sq.ft. Also, homes in Austin sold in 2013 in an average of 47 days, down 27% from 2012 the average time to sell was 65 days.

Downtown Austin

The strong 2013 housing market should see continued growth in 2014 as the demand for homes continues to rise while inventory of homes available for purchase struggles to catch up. These numbers are reflective of

the Austin area housing market as a whole and certain neighborhoods saw slightly stronger or weaker growth than the average. For specific information on your neighborhood, drop me a note and I’ll be happy to help! Considering selling this year? Check back for my upcoming post on knowing the BEST time to sell in 2014 (Can’t wait? Just give me a call…).

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

The Kyle Pfaffe Real Estate Team

Austin Board of REALTORS Pulls Listings from Zillow, Trulia & Others…So What?

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This month, the Austin Board of Realtors (ABoR) made the decision to end their agreement with List Hub at the end of their current contract next summer. List Hub is a syndication service which has distributed the home listings in ABoR’s MLS to various 3rd party websites like Trulia and Zillow. This effectively means that homes listed by Austin REALTORS will stop showing up on 3rd party websites next summer.

Why does this matter? About 95% of all home buyers begin their home search on the internet. Zillow and Trulia and 1 & 2 respectively for most visited real estate websites in the US. If you are considering listing your home for sale in the Greater Austin area any time during or after next summer, you definitely need to be asking any REALTOR you interview how they will market you home online and how they will offset this potential loss in visibility for your home.

Why did ABoR make this decision? Two major issues are driving this change – data inaccuracies on 3rd party websites & lost leads. There has been a history of data inaccuracies on the listings on most 3rd party websites and it can be very difficult and frustrating for REALTOR’s to try to fix. These errors ultimately reflect poorly on the REALTOR’s who are left to answer for the mistakes, even when they had nothing to do with them. ABoR also came to this decision because many of the home buyer leads are going to agents who pay those 3rd party websites for them, instead of the agents who hold the listings or who are trying to drive the web traffic to their own websites.

Will this affect people who list with me? NO! First of all, I am already marketing my listings on a wide variety of web platforms BEYOND what most REALTORS use that is getting exposure for my clients homes that others might never receive. Second, as a agent at Keller Williams, my listings are distributed on over 350 online search engines and 76,000 websites – ABoR’s decision will have essentially no effect on the exposure I get for my clients!

If you have more questions about this change or would like information on how I use an array of online platforms to maximize my clients homes for sale, contact me and I would be happy to help however I can!

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

The Kyle Pfaffe Real Estate Team

September Real Estate Update for Austin, TX

The Austin Board of Realtors recently finalized their numbers for September and those numbers bring more good news for the overall health of the Austin area housing market. In the Austin
area, 2,391 single-family homes were sold in September, a 34% increase vs 2012 and the most sales for September since 2005! The number of days a home was on the market in the Austin area in September was down 22% vs last September and sold in only 44 days. The median sales price this September rose more than 13% from last year to $223,000.

Downtown Austin

Almost more significant are the statistics surrounding the Austin areas housing inventory and will have a impact as we close out the year. This September, Austin had 2,487 new single-family homes come on the market, 17% more than last September, and a total of just under 6,000 total active single-family home listings, 12% less than last year this same month. All of this results in 2.7 months supply of single-family homes, 1 month less than September 2012. In a market balanced between supply and demand, there is about 6.5 months of supply. At only 2.7 months supply, Austin’s  market continues to be a strong seller’s market and is desperate for new listings!

If you would like information specific to your neighborhood, drop me a note and I would be happy to help. If you are considering selling your home and taking advantage of this great seller’s market, let me know and I would love to discuss how I can help sell your home for the highest net to you!

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

The Kyle Pfaffe Real Estate Team

Is Now the Time to Upgrade to a Bigger Home?

The real estate market for the Austin area has shown consecutive growth month after month for almost 2 years now. While it could a great time for any home owner to take advantage of the rise in home values, I think that this time could be a special opportunity for people who own homes that fit the profile and budget for first-time home-buyers. Let me explain…

Active Listings for First-Time Homebuyers2

The huge influx of people to Austin, rising rental rates and low mortgage rates have all contributed to a seemingly ever-rising demand for homes for first-time home-buyers. That demand has caused home prices for those first-time home-buyers to rise as well, increasing the possible equity for home sellers if they chose to sell in this market. Below is a report on the active number of listings on the market in Austin, Round Rock, Cedar Park & Pflugerville for between $130,000-$180,000, a common price point for many first-time home-buyers. As you can see from the graphic, the number of home available to would-be buyers has recently increased, but is still well below the levels we saw two years ago. 

If you own a home in near this price range and think your home might be a great home for a first-time home-buyer, now could be a great opportunity for you to take advantage of your increased equity and move-up to a larger home and also take advantage of the super-low interest rates yourself. If you are considering selling your home, learn how I can help you sell your home for top dollar and deliver a high net to you as well as help you find a new home to move into. Drop me a note if you are interested in finding out the value of your home. 

Interested in selling your home and saving some money on commissions? Ask me about my “Move Out, Move Up” program.

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

The Kyle Pfaffe Real Estate Team

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