Based on the reports released by the Austin Board of Realtors, the top 5 Austin residential MLS areas, per my opinion, based on average sold price closest to the list price are as follows: The average price mentioned below is the sold price.
1) Area GTE (Georgetown), closed 102.16% above asking price averaging at $188,725;
2) Area FC, 2 homes sold averaging at $85,250 closed 100.41% above asking price averaging at $190,180.
FC includes cities of Fayette County where there are only 7 residential listings currently in active/pending status;
3) Area N, closed 99.50% under asking price, averaging at $190,180, includes areas North of Parmer Lane, West of I-35;
4) Area 10S, closed 99.42% under asking price, averaging at $177,986 includes areas North of W. Slaughter Lane but South of William Cannon Drive, between Mopac and I-35;
5) Area 1N, closed 99.02% under asking price, averaging at $279,832 includes areas North of 360, South of McNeil Rd., between Bull Creek Road and Rte 183.
I was afraid you'd ask which Austin real estate areas are selling far below the asking price. I might as well give you this information too.
Area WW at the bottom of the list, closed 80% below asking price, averaging at $140,000. If it makes you feel better, only one home sold in July. Area WW is in Williamson County. Second to the last is area CM (Comal County), closed 88.72% below asking price, averaging at $444,395.
Now that I have some Austin buyers attention, many curious birdies are wondering which areas are most expensive. Based on the average sold price, the top 5 are, drum roll please:
1) To many, this isn't a surprise but at $883,602, area 8E is topping the charts. This includes homes between 360 and Lake Austin and just South of Mopac. Average days on market (DOM)is only 26 days!
2) Area 8W which includes West of 360, between Barton Creek and Lake Austin, at $605,774. Average DOM is 40.
3) Area 1B at $564,770, which includes homes East of 360, between Lake Austin and 2222. Average DOM is 36.
4) Area LS at $538,898, which includes homes South of Lake Travis just North of the Travis County border. The average DOM is a bit high at 71.
5) Area RN at $466,471 with DOM at 59. This includes areas North of Lake Austin but South of Bull Creek Road, West of 360.
You've probably figured out that certain areas in Austin are still a sellers market. This is absolutely good news for us and many Austin sellers.
1) Area GTE (Georgetown), closed 102.16% above asking price averaging at $188,725;
2) Area FC, 2 homes sold averaging at $85,250 closed 100.41% above asking price averaging at $190,180.
FC includes cities of Fayette County where there are only 7 residential listings currently in active/pending status;
3) Area N, closed 99.50% under asking price, averaging at $190,180, includes areas North of Parmer Lane, West of I-35;
4) Area 10S, closed 99.42% under asking price, averaging at $177,986 includes areas North of W. Slaughter Lane but South of William Cannon Drive, between Mopac and I-35;
5) Area 1N, closed 99.02% under asking price, averaging at $279,832 includes areas North of 360, South of McNeil Rd., between Bull Creek Road and Rte 183.
I was afraid you'd ask which Austin real estate areas are selling far below the asking price. I might as well give you this information too.
Area WW at the bottom of the list, closed 80% below asking price, averaging at $140,000. If it makes you feel better, only one home sold in July. Area WW is in Williamson County. Second to the last is area CM (Comal County), closed 88.72% below asking price, averaging at $444,395.
Now that I have some Austin buyers attention, many curious birdies are wondering which areas are most expensive. Based on the average sold price, the top 5 are, drum roll please:
1) To many, this isn't a surprise but at $883,602, area 8E is topping the charts. This includes homes between 360 and Lake Austin and just South of Mopac. Average days on market (DOM)is only 26 days!
2) Area 8W which includes West of 360, between Barton Creek and Lake Austin, at $605,774. Average DOM is 40.
3) Area 1B at $564,770, which includes homes East of 360, between Lake Austin and 2222. Average DOM is 36.
4) Area LS at $538,898, which includes homes South of Lake Travis just North of the Travis County border. The average DOM is a bit high at 71.
5) Area RN at $466,471 with DOM at 59. This includes areas North of Lake Austin but South of Bull Creek Road, West of 360.
You've probably figured out that certain areas in Austin are still a sellers market. This is absolutely good news for us and many Austin sellers.
