On Friday, I shared with you the local MLS housing statistics for Austin and the rest of Central Texas. Those numbers showed that our local housing market continues to grow steadily with rising sales prices and increased number of home sales when compared to August 2011. Once broken down into our usual six territories – Round Rock West, Round Rock East, Georgetown West, Georgetown East, Pflugerville and Hutto – the story is a little more complex.
Below you will find the August 2012 median and average sales price, dollars per square foot and days on market within six local areas.
August MLS Housing Statistics for Central Texas
Median |
Average |
|||||||
Total Sold YTD |
Total Sold in August |
Sales Price |
$ / sq ft |
Days on Market |
Sales Price |
$ / sq ft |
Days on Market |
|
RRW |
995 |
163 |
$245,000 |
$93 |
35 |
$251,854 |
$95 |
48 |
RRE |
833 |
109 |
$165,000 |
$87 |
31 |
$199,733 |
$87 |
51 |
GTW |
775 |
118 |
$218,000 |
$105 |
56 |
$242,038 |
$108 |
78 |
GTE |
207 |
31 |
$137,950 |
$80 |
49 |
$140,449 |
$81 |
78 |
PF |
859 |
96 |
$156,075 |
$81 |
35 |
$158,078 |
$80 |
57 |
HU |
326 |
45 |
$132,000 |
$81 |
21 |
$132,289 |
$77 |
42 |
Key:
RRW = Round Rock West (west of I-35)
RRW = Round Rock East (east of I-35)
GTW = Georgetown West (west of I-35)
GTE = Georgetown East (east of I-35)
PF = Pflugerville
HU = Hutto
Year-to-Year Comparisons – Percent Change from August 2011
Median |
Average |
|||||||
Total Sold YTD |
Total Sold in August |
Sales Price |
$ / sq ft |
Days on Market |
Sales Price |
$ / sq ft |
Days on Market |
|
RRW |
23.1% |
15.6% |
-2.0% |
-1.6% |
-35.2% |
-3.1% |
0.1% |
-40.5% |
RRE |
10.3% |
-2.7% |
-14.8% |
5.3% |
-44.1% |
-0.3% |
5.5% |
-31.8% |
GTW |
32.9% |
18.0% |
6.2% |
-2.3% |
-17.2% |
4.6% |
0.0% |
-17.9% |
GTE |
10.7% |
14.8% |
-0.8% |
8.7% |
-15.5% |
-3.5% |
4.4% |
-29.4% |
PF |
20.6% |
-11.1% |
3.7% |
2.8% |
-42.6% |
-3.0% |
4.6% |
-25.8% |
HU |
9.0% |
18.4% |
38.1% |
40.1% |
-55.3% |
31.9% |
30.3% |
-29.4% |
While all areas are still well ahead of their year-to-date sales of 2011, two areas – Round Rock East and Pflugerville – sold fewer homes in August overall than the same period the year before. Homes in all markets sold at a faster rate with Hutto’s market seeing the most drastic of changes at a 55.3% decrease for median days available. Unfortunately average sales prices made a small dip in four of the six markets, though the numbers are a little deceiving. In most cases it’s because the homes being sold are, on average, a hundred square feet smaller than those sold in 2011 and the sales prices matched the size accordingly. For example, the average home sold in Georgetown East in August 2011 was 1,918 square feet, but in August 2012, sold homes were only 1,814 square feet.
Georgetown West and Round Rock West still lead the pack in median and average sales price, soaring past the $200K mark. Real estate in Georgetown West is the priciest of the lot at an average of $108 per square foot while Georgetown East, Pflugerville and Hutto all float around $80 per square foot. Despite the relatively low prices of homes in Hutto, they’ve made the largest gain in sales price with the average price rising 31.9% compared to August 2011 and the average price per square foot hitting $77, an increase of 30.3% on the prior year.
Homes continue to sell more quickly than in the previous year. Homes in all six market areas are selling on average within 3 months with homes in both sides of Georgetown averaging the longest time span with 78 days. Round Rock West showed the heaviest decline in days on market landing at an average of 48 days on market, 40.5% fewer days than in August 2011.
Despite the slight drop in housing prices for a few areas compared to last year, the local housing market continues to look strong as we head into the slower fall buyer season. With inventory significantly lower than in 2011, the prices should remain steady though the number of homes sold might decrease due to a lack of available homes fitting buyers’ criteria. If you’re interesting in selling your home or would like market data specific to your neighborhood or another area of Central Texas, please contact me at Robert@RobertJFischer.com or call/text me at 512.791.0229.