Category Archives: Market Statistics

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Circle C Housing Market Update February 2019

Circle C Housing Market Update February 14, 2019

Hey neighbors, Happy Valentine’s Day!  Hopefully you’ve picked up something special for your Valentine and can relax the rest of the day.  Me, I’m thinking about the housing market in good old Circle C.  If you have a few minutes, let’s go over the numbers for the past 6 months and January specifically.  It’s a new year and people are thinking about moving again.

The past six months and January totals

Between August 2018 and January 2019, we recorded 150 sales in Circle C.  Average size was 2806 Square Foot, average price was $512k or $182/Square Foot.  Those numbers were slightly down from last month.  Only nine homes closed in Circle C during the month of January!  That’s amazing.  We typically average about 30 home closings in a month, but January was SLOW.  Remember, January closings are the result of December contracts… so really December was a slow month.  Last year we saw 16 homes close in January 2018.    The minimum sale recorded in January 2019 was a 1,690 Square Foot home for $379,500.  The average home in January was 2,621 SQUARE FOOT and closed at $453k.  The highest recorded sale in MLS for January was a 2,750 square foot home that closed at $465k.

When I think about the market now, I notice a few very interesting things.  First, the lack of homes on the market – it’s amazing to me that a community the size of Circle C (approx. 5500 homes) that only 30 homes are currently ACTIVE and for sale.  Of those 30, nearly half (14) are new construction.  That means there are only 16 resale homes available. Wow.  Using the National Association of REALTORS© months of inventory measurement, NAR would say that Circle C currently has only 1 month of inventory!  That is what we would call a giant Seller’s market.  Now there are more new construction homes available in various stages of build, but they may not be listed in the MLS.  Still, this is a tough environment for Buyers.

See table below to see the January stats year over year.

 

  Jan 2018 Jan 2019 % Change
Homes Sold 16 9 Down 44%
Minimum price $370,100 $372,500 Up 1%
Average price $454,521 $446,389 Down 2%
Median price $439,500 $464,000 Up 6%
High price $601,490 $525,000 Down 13%

 

The Take Away

It’s only been one month for 2019, but given our lack of resale home inventory I am not going to forecast a huge 2019 in terms of home sales.  After all, some of the current inventory is not actually ready to move into (new construction) yet.  I did notice a change from our two builders in the area – Cal Atlantic / Village Builders who have homes going up in Hillside Estates, Greyrock and Avana.  Looks like they are still going strong and I expect that Greyrock will be built out in early 2020.  Avana and Hillside Estates similarly.  Homes By AVI moved their sales office away but are building a few 3 story townhomes as specs, and fielding inquiries by phone.

It’s going to be an interesting year folks.  Here’s to your Valentine’s Day – we hope you have a wonderful day and an even greater year!

For More Information

For more information about the Circle C housing market and your particular neighborhood click here to view the updated Market Stats report on MoveToCircleC.com or AustinRealEstatePartners.com.  There you’ll see a google map with specific values for each neighborhood and if you scroll down a little two tabs with more information – one for the prior six months and one for the annual growth rate.

Still have questions about the market or what your home value could be today?  Call me directly at (512) 288-8088 and I’ll do my best to provide an answer and there is no obligation.

Meridian Housing Market Update April 2017

Wow, what a difference one month makes!

We have entered the Spring Selling Season. In April Meridian recorded 8 Homes Sold, that’s 5 more than were recorded in March. Seems the jump in sales could be caused by several homes priced below $500k. The median sales price in April was $491k while the median price in March was $710k.

Over the prior six (6) months of sales, Meridian recorded 17 sales – with an average size of 3370 sf, and $537k. As of May 4th, there were 9 homes available for sale in the MLS with an average price of $759k.

The most sales were centered on homes between 3500-3999 sf (7) selling for an average of $152/sf or $557k. One super-sized property (>4500 sf) sold for approximately $165/sf or $745k.

The latest report appears below for your convenience. To see more details about sales in Meridian over the past 6, 12 or 18 months, feel free to send us a note and request a sales history report. Alternatively, we are now publishing a monthly update in the Neighbors of Circle C and Meridian magazine that is delivered to residents of Meridian by US Post.

Meridian Market Statistics

Market Statistics Update: April 2017

It’s that time of year again! More and more CCR homes are popping up on the market for sale and it seems that if they are priced correctly they are under contract just as quickly.

In April, Circle C recorded 26 sales in the MLS (some new construction or FSBO sales are not captured) with an average price of $518k with an average of 31 days on market. As of May 4th, there were 55 homes for sale in the MLS with an average price of $526k! Similarly, there were 60 homes under contract at an average price of $524k.

Over the past six (6) months CCR recorded 142 sales with an average price or $480k or $171 per Square Foot!

Compared to the same six (6) month time frame last year (November 2016-April 2017 versus November 2015-April 2016) the number of homes sold in the MLS jumped by 14 or 11% for an additional $4k, or +2%. Month over month we see a very slight uptick as the market maybe starting to normalize.

Just like last month, if I were to get out my crystal ball and make a forecast I would expect a solid spring for sellers. It’s still a “Seller’s Market” and Buyer’s continue to shop CCR due to the location, amenities and schools!

To see more details regarding the last six months of sales, check out what is selling in your neighborhood by viewing our market statistics. If you have questions, post them here or give our office a call.