Four Points home sales have experienced solid growth for the first half of 2016 while prices are slightly lower compared to the same period last year.
“(Local) home unit sales were up 15.15 percent, while the median price remained at $485,000 versus $497,000 last year,” said Tom Radack, owner Bartlett Real Estate, Keller Williams Realty.
Stronger growth continues to be limited as a result of less available inventory, but days-on-market decreased from 63 to 58, from the same period last year, he said.
“Although demand is still strong, prices here are stabilizing, as a whole. However, location and desirable features still play an important role in what a buyer is willing to pay,” Radack said.
The majority of the homes that sold in Four Points were those less than $600,000, with the bulk of those being priced at less than $450,000.
“Buyers are watching closely at the prices they are seeing and the conditions of the home,” Radack said. “Homes on the market today, should have any appreciated value already priced into the home.”
Last month, June, proved to be one of Four Points’ best in five years with 37 sales, and inventory holding at around 161, as compared to previous years, Radack said.
Compared to the Austin area, Four-Points continues to do well.
“Those factors driving the Austin area are also fueling our growth. Our quality schools, shopping, recreational areas, and employment opportunities will continue to attract more people to our area over the coming year,” Radack said.
Single-family home sales and prices experienced strong gains throughout the Central Texas region in the first half of 2016, according to the June and mid-year 2016 Central Texas Housing Market Report released last week by the Austin Board of Realtors.
“Despite the ongoing housing shortage and affordability challenges impacting our region, population growth and housing demand continue to drive home sales upward,” said Aaron Farmer, 2016 President of the ABOR. “The Austin-Round Rock housing market is on track to outpace 2015 market levels, which was a record-breaking year for home sales.”
Austin-Round Rock Metropolitan Statistical Area
Single-family home sales in the five-county Austin-Round Rock MSA rose 6.1 percent year-over-year to 14,482 home sales in the first half of 2016, while median price rose seven percent year-over-year to $282,000. Home listings also experienced gains in the first half of the year, with active listings increasing 6.6 percent to 5,290 listings, new listings rising 5.7 percent to 20,060 listings, and pending sales rising 7.2 percent to 15,909 sales.
Single-family housing market activity continued to be strong in June 2016, with home sales jumping to 3,219 sales, an 8.5 percent increase compared to June 2015. Median price rose 8.2 percent to $295,500 during the same time frame. Monthly housing inventory remained unchanged at 2.5 months, which is less than half of the Real Estate Center at Texas A&M University’s benchmark of 6.5 months as a balanced housing market.
In the first half of 2016, Travis County single-family home sales increased 4.9 percent year-over-year to 7,203 home sales–nearly half of all single-family homes sold in the five-county MSA during the same time frame. In the meantime, median price increased 7.8 percent year-over-year to $330,000. In June 2016, single-family home sales increased 5.2 percent to 1,567 home sales, median price rose 10 percent to $357,500. However, monthly housing inventory stayed steady at 2.6 months.
For a complete report for June, and all past months and years, by county, search the following link for the Austin Board Of Realtors: ABoR.com/StatsJun16.