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!
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.
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!
According to the most recent census data taken from the 2010 census, there are 2708 people in the neighborhood with an average household size of 3. A few other numbers that stood out, but click the link at the bottom for the full report.
In Round Rock Ranch, the population by age is primarily between the age of 25-64. Round Rock Ranch is also has a large number of kids, with 37% being 17 or younger.
Fifty-one percent of the population in Round Rock Ranch is female and 77% of households are married. Owner-occupied homes represent 88% of households in the neighborhood and 71% of the population are employed in the private sector with 11% being employed by the government.
Round Rock Ranch has seen a number of negative trends over the past few years across almost every key real estate metric. Average home sales prices, average price per foot and number of homes sold were at or almost at all-time lows in 2011. Last year, the average home in the Round Rock Ranch subdivision sold for $155,362 in 41 days and for $71.10 per square foot. While that could be depressing, 2012 has been a good year for Round Rock Ranch, which has seen positive changes across ever category.
Year to Date 2012
Round Rock Ranch is on pace to see 45 home sold this year, a 29% increase from last year! The average home sales price has gone up slightly to $155,744 and the average price per square foot has risen to $75.06. So far this year, the average home is also selling in only 39 days and for 98.8% of the asking price.
While the year-to-date numbers for Round Rock Ranch are encouraging, the numbers for August are outstanding! While the sample is small (only 6 home sold), the average price has gone up to $162,667 and the average price per square foot has risen to $75.84. The number of days the average home sold for held steady at 40 and the average home sold for 98.7% of the listed price.
What About My Home?
A large number of factors are used to determine the value of your house and how much your home will sell for (yes, different numbers, depending on the market and how good your REALTOR is), including location, lot size, number of bedrooms & bathrooms, amenities and upgrades. An individual can sometimes get an idea of what they home would sell for by using the current price per square foot for their market (i.e. $75.84/sq.ft. x 2000 sq.ft. = $151,680). For a more accurate valuation of your home and or any questions about the real estate market in Round Rock Ranch, please contact me today!