How is the Housing Market in Milwood? The July Report…

The Austin Board of Realtors recently released its number for the month of July and while the activity in Milwood was not as strong as the average for Austin, this subdivision still had some improvement from 2011. The number of sold units in Milwood shrunk 17% from 2011 versus a 13% increase in Austin as a whole.

A few other numbers of interest…

  • $194,407 – the average sales price in for a home in Milwood, a 4% increase versus 2011
  • 27 days – the average number of days a property takes to sell, down 36% from 42 days last year
  • 98.1% – the percent of list price that the average home sold for in July, up .7%
  • $101.64 – the average price per square foot a property sold for in Milwood, down 1.6% from $103.20 in 2011

While the number of units sold in Milwood in July of this year was less than in 2011, the average days on market and percent of list price vs. sale price saw positive changes. I would expect the average sales price to continue to rise as demand increases and supply remains relatively low in Milwood. Now could be a great time to sell in Milwood if you are ready to move or move up! For a free specific market analysis of your home, please contact my office and we would be happy to help. If you are interested in buying a home in Milwood, super low interest rates have made buying a home in the Milwood neighborhood more affordable than ever! Contact us today!

 Kyle Pfaffe, REALTOR®      e:      m: 512-636-9707      w:

Northwest Austin Real Estate Update – June 2012

The Austin Board of Realtors recently released the statistics for the month of June for Austin. This report is going to focus on the recent activity in northwest Austin (NW) which includes but is not limited to the neighborhoods of Milwood, Rattan Creek, Anderson Mill, Jollyville and Balcones.

In June, there was one less sold listing in NW (89 vs. 90) but the average sold price increased 7.3% to $263,812.  The average days on market for a home sold in June in the northwest were 43 compared to 51 in 2011. Also, homes are selling for 98.3% of their list price, an increase from 97.4% in 2011. In summary, while about the same number of homes sold in 2012 as 2011, those home are selling on average for a higher price and more quickly than they did in 2011. The higher sale prices drove the total volume up 6% in 2012 to $23.5 million.

Year-to-date, 10% more homes have sold in the NW with over $93.2 million in real estate transactions being finalized. Austin’s market is HOT! Please contact me if you are interested in receiving a free market analysis of your home or interested in buying a home. With historic interest rates available, now is a great time to buy a home!

Kyle Pfaffe, REALTOR®
Keller Williams Realty
m: 512-636-9707