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

Austin Home Values Climb Higher and Inventory Shrinks in First Quarter

 

The Austin Board of Realtors recently released the finalized statistics for March 2013 which now gives us a complete look at the Austin real estate market for the first quarter (Q1, January – March). This is a quick look at how Q1 compares to the same time period last year and an update on the Austin market as a whole.

In Q1 of 2013, 2736 homes sold within the Austin city limits. This represents a 20.3% increase versus Q1 of 2012, when only 2275 homes were sold. The average sales price in Austin also grew 8.6% to $321,912 and the average price per square foot rose 10% to $159.50. While prices rose, the average time it took a house to sell in Austin declined 28.8%. The average home in Austin sold in 52 days, 21 days less than during the same time period in 2012.

While the data from home sales give a clear picture of the strength of the Austin market, the number of active listings shows that these trends will likely continue for the foreseeable future. The number of homes for sale in Austin was only 5355 in March. This is a 29.5% decrease versus 2012. With over 1200 people moving to Austin every week, demand continues to strengthen and is driving prices even higher as available inventory continues to shrink. This graph is shows the long term trend in Austin.

Historic Count of Active Listings

Though the overall market is very strong, home values and market activity can change from subdivision to subdivision or even street to street. 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