Many homeowners from the neighborhoods mentioned above follow my blogs to see the statistics in their community. I ran the YTD statistics and overall, in the Ridge at Alta Vista neighborhood, the average price per square foot is 2% lower in 2008 compared to 2007. That is expected but still not too bad. But in the Enclave Condominiums, the average price per square foot is 18% lower than last year. As you know, Toll Brothers has completed the project and only has a handful of completed condominiums to sell.
These are Year To Date numbers, so when averaged, it doesn't seem too bad. I want to point out that it is important to take into consideration how Central Austin's real estate has been doing the past two months when the bank crisis and mortgage bail-out started. The sales every where in Austin became sluggish (view my blog on November statistics).
If you are thinking of selling in Austin at this time, please have your real estate agent, run your neighborhood statistics since October, 2008. You need to have an understanding of the current market.
If you would like me to run the statistics for a specific neighborhood, like the one in this blog, please give me a call and I would be happy to provide this information to you for FREE.
