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

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

What is the Milwood Neighborhood Like?

Neighborhood Profile for Milwood and Rattan Creek

Data from Census Block 204.11/2

According to data taken from the most recent U.S. Census taken in 2010 and from tax data, Milwood has approximately 1723 people living in the neighborhood, with the average household having 3 people. At the time of the census, the median home value was $200,200. Listed below are a few other statistics of note for the Milwood neighborhood in Austin, TX.

  • Average Household Income > $85,704
  • 63% of Residents are between the ages of 25-64 and 27% are 17 or younger
  • Homes with married couples make up 58% of the residents
  • 71% of residents have at least some college education
  • 74% of homes are owner occupied with the other 26% being rented out

Click Milwood – Neighborhood Profile for the full report. If you have any help or questions on Milwood, Rattan Creek or 78729, Contact Me today!

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

Household Income – Milwood (78729)

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: KylePfaffe@kw.com      m: 512-636-9707      w: AustinHomes4You.com

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
w: AustinHomes4You.com