05 Aug Onion Creek Neighborhood 2nd Quarter Market Update
I am glad to report we now have the updated real estate market statistics from the Austin Board of Realtor and the Texas Association or Realtors.
I posted the update on the first quarter a few weeks ago so I am going to highlight the changes from the first quarter.
Median price on sales actually went down almost $4,000 in the second quarter and ended at $375,000.
Closed sales doubled in the second quarter. There were 14 in the first quarter and 28 in the second quarter.
The active listings went from 19 to 28 from the first quarter to the second quarter.
A huge change took place in days on market. It dropped from 74 to 39. So that tells me that when houses are coming on the market in this neighborhood that buyers are quickly able to move on those and close the sale.
There was also a big change in price distribution of sales at the very top of the market for this neighborhood. In the first quarter we saw that 35.7 percent of the homes sold were between $400,000- 500,000. In the second quarter that percentage dropped down to 25 percent but for the first time we saw that 7.1 percent of the homes sold were between $500,000 and $750,000. This tells me two things. People with the most expensive homes in the area are selling and people are positioned and ready to quickly buy those homes.
You can see the rest of the stats yourself. If you have any questions just contact me. You can also direct message me on Facebook and I do personally respond to all my messages. Have a great week!
Your neighborhood Realtor,