By LYNETTE HAALAND, Four Points News
Single-family home sales and prices in greater Austin — including Four Points — set all-time records in 2015, as well as records for the month of December.
“Four-Points is doing very well,” said Tom Radack, owner Bartlett Real Estate Group Keller Williams Realty.
Four Points experienced solid sales growth and price appreciation, he added.
“Stronger growth was limited as a result of less available inventory, but the median price rose by $33,525 to $493,525, 6.8 percent over 2014. Days on market increased from 25 to 37,” Radack said.
A total of 438 homes sold in 2015 in the Four Points subdivisions of Comanche Trail, Grandview Hills/Parke, River Place, Steiner Ranch and Westminster Glen. This was up from 2014 sales totalling 431.
The median sale price in Four Points was $493, 525 up from $460,000 in 2014.
According to the year-end 2015 Multiple Listing Service report released last week by the Austin Board of Realtors, 29,068 single-family homes were sold in the Austin area in 2015, a 5 percent increase from 2014 and an all-time high for Austin-area home sales.
Over the course of 2015, median price for Austin-area single-family homes increased 9 percent from 2014 to $263,900.
“Demand for Austin-area real estate was stronger than ever in 2015, primarily due to our region’s job and ongoing population growth,” said Aaron Farmer, 2016 president of the Austin Board of Realtors.
The factors driving the Austin area are also fueling growth in Four Points.
“Our quality schools, shopping, recreational areas and employment opportunities will continue to attract more people to our area over the coming year,” Radack said.
The total sales dollar volume for single-family homes in 2015 in the Austin area topped $9.6 billion, an increase of more than $1 billion from 2014, reports ABOR, which represents 11,000 members in Central Texas.
But across Austin, ABOR’s Farmer claims low housing inventory levels, rising home prices and high housing development costs have brought Austin’s housing affordability issues to “critical levels.”
ABOR states the median price for single-family homes in the Austin area increased nearly $30,000 in the last year alone, which is similar to Four Points’ increase but a little lower.
Just looking at December MLS numbers, single-family home sales for the Austin area also set a monthly record, increasing 5 percent year-over-year to 2,390 home sales.
The median price for Austin-area homes was $270,000 in December 2015, 10 percent higher than December 2014.
Monthly housing inventory in December 2015 remained unchanged from 2014 at 2.2 months, less than half of what the Real Estate Center at Texas A&M University considers a balanced housing inventory level of approximately 6.5 months.
December was also strong locally in Four Points.
“December 2015 proved to be one of our area’s best Decembers in six years with 37 sales, with inventory holding at around 106, as compared to previous years,” Radack said.