Four Points home prices increase 37% from 2020

Data compiled from Multiple Listing Service

By LYNETTE HAALAND, Four Points News

From January through September, home sales in Four Points decreased by 14% compared to last year while the median price increased 37%.

Four Points is considered very desirable, said Tom Radack, owner of Bartlett Real Estate, Keller Williams Realty in River Place and a longtime resident of River Place.   

“There are new businesses moving to the area, more office space and the road network improving,” Radack shared. “With the highly regarded schools, parks and shopping, more people are being attracted to the area.”

In the Four Point area, as residential home sales declined 14% to 292, the median sales price grew 37% year over year to $850,000. 

New listings declined 17% to 330 as active listings grew 8% year over year to 26 listings.

“Although the area is still in a seller’s market, as in the Austin metro area, the market is calming down with inventory increasing, fewer multiple offers and buyers giving up fewer incentives to sellers,” said Tom Radack, owner of Bartlett Real Estate, Keller Williams Realty in River Place and a longtime resident of River Place. 

“Pricing is, however, expected to continue to remain at current levels and possibly increase, depending on the location and features of the home,” Radack said. “Sellers are beginning to price based on current comparables, not anticipating a higher price; and buyers being more selective.”

In Four Points, homes spent an average of 8 days on the market in September, down 7 days when compared to September 2020.  

In the city of Austin, the median home price rose 28% year over year to $525,000 — a record for the month of September. Home sales decreased 7% to 1,156 sales, according to the Austin Board of Realtors data. 

In Travis County, home sales also decreased 7% to 1,796 sales while the median price for a home increased 23% year over year to $510,000.  

The Austin-Round Rock metropolitan statistical area (MSA) housing market is continuing its calming trend, according to ABOR. Home sales decreased 5% compared to September 2020 as the median sales price of $450,000 set a record for the month of September across the MSA. 

“The Austin housing market remains strong and competitive,” said Susan Horton, 2021 ABoR president. “However, more homes are beginning to hit the market evidenced by the increase in new listings in September, which is creating a greater number of opportunities for buyers. While this is a positive step forward, there is a long way to go for this to be a balanced market.”

Bartlett Real Estate compiled the median value data from January 1 through September 30, 2021 from the Multiple Listing Service in Four Points which includes Comanche Trail, Grandview Hills/Parke, River Place, Steiner Ranch and Westminster Glen. This report uses median sold price, sold price per square foot (SP/Sqft), and cumulative median days on market (DOM).

To meet the continued demand, due in large part to economic activity and job growth across the region, addressing housing affordability and increasing available inventory should continue to be a top priority for the region. 

 As residential home sales in the Austin Round-Rock MSA declined 5% to 3,682, the median sales price grew 29% year over year to $450,000. Homes spent an average of 17 days on the market, down 22 days when compared to September 2020.  

Several factors have contributed to the housing market boom in Austin, not just over the past 16 months, but over the past two decades. Job growth and a flourishing and diverse economy have been a main driver of increased demand according to the Austin Chamber of Commerce. 

“Tesla moving its headquarters here has cemented Austin as a hub of the tech and innovation industry with the potential for limitless opportunities,” said Laura Huffman, president and CEO of the Austin Chamber of Commerce. “The intentional diversification of our region’s economy and significant job creation also brings challenges that we as local leaders must take head on. Increasing housing inventory is crucial to the health and vibrancy of our community.” 

“Austin has the opportunity to find a path forward that will allow us to maintain the magnetism of our housing market while keeping our competitive advantage when it comes to cost of living and quality of life,” Huffman said. “Doing so will allow us to continue to attract job growth and capital investment in the region.”