11 Aug Village at Western Oaks 2nd Quarter Market Stats
We have the recently published real estate market statistics for the 2nd quarter [April, May, and June]. I am giving you an overview of the stats for one of my favorite neighborhoods in south Austin.
Median price on homes sold in this quarter was $392,500 compared to $385,000 for the first quarter. There were 37 closed sales with 17 active listings. There were 25 closed sales and 7 active listing in the first quarter so it continues to hold true that activity is lowest in the winter months and starts increasing as we get closer to the summer months.
The quarter had 11 days on market which is a huge drop from the 35 days on market in the first quarter. However, the days to close from the first to second quarter only had a difference of one day – 30 in the first quarter and 29 in the second quarter.
The second quarter ended with 1.7 months of inventory compared to .7 months of inventory and the end of the first quarter.
Price distribution showed the majority of homes sold were between $300,000 and $400,000 and that remains consistent with this neighborhood.
Just so you know how this compares to the overall Austin area, the median price in the entire area for the second quarter was $365,000 with the 51.4 percent of homes selling between $200,000 and $400,000. The overall Austin area had 2.3 months of inventory for the second quarter with just over 2500 active listings.
Let me know if you have any questions or comments. I personally respond to all my messages.