June 2009 Austin's Real Estate Statistics

Is Austin's market shifting? Hmm, look at these statistics. Based on the number of single family homes sold in Austin (per Austin Board of Realtor's), in June, sales are down ONLY 9% compared to last June! In Lake Travis ISD (which includes Lakeway), sales ARE UP 2% compared to last June!!!! Yes, sales are UP, finally in the black. The last time Lake Travis ISD was in the black was in 2007. Just in case Lake Travis ISD home owners wanted to see the break down of home prices sold and days in market, I have provided this information in the above chart. So far this is a good sign, and I hope this market picks up! Let's keep selling these homes and keep thinking positive! NOTE: The information herein has been obtained from the Austin Board of Realtors and has not been verified.

Austin's Real Estate Market May 2009

How's the real estate market in Austin, TX? Well, it could be better, though it is better than other parts of the country. Austin residential unit sales are down 22% this May compared to May 2008. In Lakeway or residential sales under Lake Travis ISD, sales are down 20% compared to last May.

Alamo Title reports that new listings are down 30.65% compared to last May. As for average prices in Austin, Alamo Title also reports that the "New Listings" average list price is up 12.11% to 355,139. In May 2008 the average list price was $316,768. Sold average sales prices decreased 3.35% to $250,014. For May 2008 it was $258,675.

The statistics reported below have been obtained from the Austin Board of Realtors and have not been confirmed. Pearl Jones nor Keller Williams Realty is not responsible for the inaccuracy of this report.

City of Lakeway's Growth for 2009

City of Lakeway representatives Shannon Burke and Chelsea Blanchard came to my market center to give a presentation on the city's growth. This is the second time I am blogging about the fast growth of Lakeway and the changes appear right in front on my eyes.



Below are my notes, to the best I could take them:



No. Lakeway Village - 160 total acres; on FM 620 and Clara Van; close to Ryland's Home's location. 130 single family homes, 88 condos



Corey Fish Funeral Homes - West side of FM 620



Vistas of Lakeway - Toll Brother's Community of 175. Phase 1 is still under construction which has 110 condos.



Lake Travis Transitional Medical Center - Opens spring 2010, located behind the post office. A long term acute care hospital, medical office is going up. This is for patients who are just coming out of ICU just before going to rehab.



Real del Lago - 22,500 sq ft building, restaurant and retail office. This is going on FM 620 just next to Walgreens.



Discovery Point - 1st phase is almost done, 11,000 sq ft of office space. 2nd phase will be twice as big, 22,000 sq ft. medical office building closer to the ridge.



Lakeway Regional Medical Center - 54 acres of 104 bed hospital, medical office, retail, hotel, retail and restaurants. Site work is underway. There may be more beds 40+.



Tuscan Village - on Lohman's Crossing, 61 acres of age restricted community. 120 Single family cottages, 70 townhomes, 100 condos, with library and retail stories. Across the street on Lohman's Crossing will be a 210 multifamily dwelling.

Lakeway Mud Water Tank - which is already in progress on Lohman's Crossing. This tank will hold 2 million gallons of water.

Pierce Plaza - on Lohman's Crossing and Rolling Green, 12,000 sq. ft. office building.

Lakeway Dental - this 8,000 sq ft medical office will go next to the old Exxon station on Lakeway Blvd.

Lakeway Church - is expanding the church adding a 13,000 sq ft building.

Lakeway Highlands - As you know, Highland Blvd. is being extended from Lakeway towards Bee Creek by Rough Hollow. This will be 1,540 acres which includes a hotel, yacht club, 1,400 single family lots, 330 condos. The street should be complete this summer.

Serene Hills - The road was expanded to connect to Hwy. 71; 456 acres of 300 single family homes plus 300-400 apartment units with a commercial building.

Palombo, Flintrock - 15 single family lots near Flintrock Falls.

There will also be two new schools, an Elementary school and a Middle School by Bee Creek Road. How about a Hight School? No talks of adding a new one at this time. What Lakeway really needs is another grocery store. The HEB Shopping Center of Hwy 71 and Hwy 2244 which recently expanded has been so congested! The Randalls on FM620 is a bit more expensive than HEB.

What are your thoughts on Lakeway's growth? If you are thinking of moving to Lakeway, who is the best person to reach than one who knows the area best. Give me a call at (512)786-SELL/7355. I am a realtor with Keller Williams Realty and my office is smack in the middle of Lakeway.

Austin's Real Estate Market April 2009

The Austin Board of REALTORS® has reported that the volume of single-family home sales in April 2009 was 1,601, down 18 percent from April 2008, and the median price was $189,000, up one percent over the same time period. In Lakeway or homes under the Lake Travis ISD, single-family homes sales in April 2009 is down 14% compared to April 2008.

The outlook for Austin is getting better as the sales have increased and the gap between the months have started to close in. With the current low interest rates (4.5-4.75% 30 year fixed) and the 8K stimulus for first time home buyers, we hope that this continues. It was mentioned in my office that over 50% of the buyers in the current market are first time home buyers, wow!

We hope that more enlightening news about our real estate market continues. Let's see what May brings us!

Hill Country Women's Vendor Show in Lakeway

16 women business owners have come together to participate in the first Hill Country Women's Vendor Show occuring in Lakeway. The show will be held on Sunday, May 17th from 2 till 6 pm at the Ridge at Alta Vista Clubhouse in Lakeway.

Participants include Marge S. showcasing Silpada Jewelry (jewelry) ; Kimberly P. from Organize Me (organizing service); Kate B. showcasing Mary Kay (make-up); Melissa P. of Entertaining at Home (home decor); Hillarie E. of Creative Memories; Susan A. of Lush Salon (hair salon); Kate S. of Exclusive Wall Design (faux painting); Lana B of Personal Training and Group Fitness (personal traning); Nicole L. of Nicole's Computer Solutions (PC help); Carole W. of Carole Willard Interiors (Interior decorating); Doris S. of Deep Tissue Therapeutic Massage (massage) and more!

The event will provide food, drinks, and prizes. Please come and bring your family and friends and support our women owned businesses. Call me at (512)786-SELL/7355 for questions or directions.

PJ's Odd Real Estate Joke on Optimizing For Sale Signs

In the City of Lakeway, the city pays code enforcers to monitor that appropriate signage is used when a home is for sale. Example, for Open Houses, one can only have a sign that says "Open House" and an arrow plus a business card must be stapled on the sign. Nonetheless, realtors are only allowed to have an Open House on the second and fourth Sundays of the month. If your Open House sign is in violation, they either take the sign down and they try to track you down and pay you a visit and they give you a warning. Then after the first offense, you can get fined. Yes, I have had to learn the hard way and get many unexpected visits from the code enforcers.

When a property is for sale in Lakeway, you are not allowed a for sale sign, not even one. Just an informational box with flyers are allowed in front of the home. In my frustration, I have come up with this 'optimized' home for sale joke.

March 2009 - Residential Sales Statistics

Once again, residential sales in Austin have dropped 31% in March 2009 compared to last March (using units sold). In Lakeway, specifically all homes under Lake Travis ISD, residential sales are down 17% compared to last March. Though these numbers don't sound so great, looking at the charts below, we are at an upward trend for the season as we approach spring/summer when sales are usually higher. Hope this trend continues to grow upwards as the interest rates continue to stay low (currently 4.875% 30 year fixed).

This information has been obtained from the Austin Board of Realtors and has not been verified.