Circle C Housing Market Update August, 2019
Greetings friends and neighbors. In family-oriented neighborhoods like Circle C there is a noticeable slow down in buyer activity as many people are fitting in the last vacation of the summer and preparing for the school year. The more things change, the more they stay the same. I observed 3 open houses on Friday night last week which is a little unusual, as most agents and buyers are active on the weekend. This past weekend was “tax-free” weekend which again typically means the most common buyer for Circle C homes may be distracted with other activities. The good news for sellers is after the kids are settled into the school routine, relocation buyers will replace the summer time demand.
The last six months of the year, February – July 2019
Let’s take a quick look at the home sales from February through July 2019. Over the past six months (Feb-Jul) we’ve recorded 203 homes sold… a run rate of ~ 34 homes a month. June and July were strong month for sales, recording 41 and 44 homes as sold respectively. The most activity in July was noted in Circle C Central (one of the largest communities in Circle C) with 9 sales in July, followed by Circle C West with 8 sales in July. As of August 13th, there are 45 homes listed for sale (Active) in MLS with a median ask price of $499k. There are 56 homes with a Pending status and a median ask price of $537k. That number is skewed a little on the upper side as there are five pending homes with an ask price over $700k, and one at a whopping $1,385,000!
Year to Date 2019
Year to date, January 2019 to August 13th, we have recorded 218 sales in MLS. The average home sold during that time was a 2003 4 bedroom, 3 ½ bath home with about 2,830 sf of living space. Average ask price was $526k and sold for an average of $523k with only 38 days on market. The median ask price over that same timeframe was $500k and median sold price was $499,950. Median days on market were a mere 10 days!
As for July 2018 versus July 2019: See table below to see the monthly stats year over year.
| July 2018 | July 2019 | % Change | |
| Homes Sold | 37 | 44 | Up 19% |
| Median Sold Price | $512,500 | $497,500 | Down 3% |
| Median Size | 2,914 sf | 2,963 sf | Up 2% |
| Median $/SF | $180.38 | $183.32 | Up 2% |
| Median Days | 6 | 15 | Up 150% |
The upper and the lower limits
Okay, the median prices are holding steady and volume of sales continue to be impressive. What about the upper and lower limits, or range of values? Last year, the most expensive home that sold between January and August 12, 2018 was a $880k, 5-bedroom, 4-bath, 3-car garage, 4,347 SF home in Avana. This year the most expensive home sold between January and August 12, 2019 was a $1,251,500, 5-bedroom, 5-bath, 5300 sf home in the Hillside section of Circle C. On the lower end, last year the least expensive home that sold was a $355,000, 3-bedroom, 2-bath, 2057 sf home in Circle C Central. This year the least expensive home that has been sold was a $350,000, 2-bedroom, 2-bath, 1,482 sf home in Park West. So, Circle C sold prices are ranging of $350k to $1.25MM YTD…. and sold home sizes from 2057 sf to 5300 sf YTD.
The Takeaway
While volumes are still impressive, we are running slightly behind our 2018 pace (238 versus 218, or down 9%) as forecast earlier this year and median home price is slightly higher (up 2%).
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.
