Central Austin Realty Bits

Not just for Austin luxury homes, but to see what's happening overall in the market, I pull my Austin MLS "hotsheet" quite often and review price changes, pending contracts, sales etc.  A few luxury sales at full price caught my eye so here is the year to date Austin luxury home sales update.  

*Sales are up over 20% vs 2010 for all single family homes priced over $650,000 in the Austin area.

*Sales have doubled for homes priced over $2 MM--21 so far this year.

*Sales of homes price $1 MM to $2 MM are up 30%.

*Homes priced under $2 MM sell in an average of 115 days.

*Homes priced over $2 MM sell in an average of 190 days.

*The number of luxury home sales has increased in the last 30 days

*The inventory of available luxury homes for sale has decreased in the last 30 days.

When you look at all sales across the entire Austin area MLS, they are down slightly from last year. Inventory is down slightly too.  But while the overall market is a mixed bag,  the Austin luxury home market has strengthened in terms of sales volume and a drop in inventory.

One other thing I noticed is that as the year has progressed, the average size home at each price level has decreased for luxury homes. That means for instance that the average $1.5 MM home is now slightly smaller than a year ago by 2-3%.  Put another way, you will now pay slightly more for slightly less house than in 2010.

Contact me to buy or sell an Austin luxury home.

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Jeff Harris, Broker

jeff@trueaustinhomes.com

Funky, eclectic Burnet Rd runs from W. 45th street in north central Austin to north of 183 and out past the Domain.  The south end of Burnet Rd , up to 2222/Koenig Ln is evolving and changing to become a destination for N. Central Austin and beyond. Once a 50's and 60's era commercial mess, new businesses have opened up and are thriving.  I enjoyed my breakfast tacos at Torchys this morning.  It's in the 5100 block across from a futon store and tatto parlor.  It struck me how much Burnet Rd has changed.  Finally, the right mix of businesses is settling in along side long time thrift stores,plumbing supply stores and saloons. 

The neighborhoods of Rosedale, Brentwood, Shoalmont, Allandale and Crestview flank each side of the lower Burnet Rd. corridor.  Vintage bungalows and ranchers, built mostly from the 1930's to 1960's, along with condos and new modern infill construction populate the area.  Condos are abundant too.  I like that prices range from the low $200's so most buyers can find something to satisfy their housing itch--even someone looking to spend $500,000 will be happy to see how far that goes in this part of town.

There is nothing high brow about South Burnet Rd (SoBurn?) but that is what gives it a true Austin appeal.  On Lower Burnet Rd (LoBurn?) you can eat a taco, bbq or an omelet, get a tattoo or drink a beer. You can buy pottery, antiques, vintage clothing, naked furniture, refrigerators, toothpaste, tequila, used bookshelves and used cars....mostly from local purveyors.  And if you live in the neighborhoods along the route, you can walk to it all!  Try and do that at the mall!

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Jeff Harris, Broker

True Austin Properties

jeff@trueaustinhomes.com

Search Burnet Rd area homes for sale.

Davenport Ranch, originally developed in the 1980's, is a popular neighborhood consisting of several phases in the Eanes ISD near Lake Austin and Loop 360 Capital of Texas Hwy.  The Austin Country Club is located at the north end of the development and Davenport Village offers shopping, services and restaurants for the area.  I have enjoyed the terrace at Maudie's Tex Mex with it's western views and icy margaritas on more than one occasion and many homes in the neighborhood are withing walking distance of the Village.

In 2010, Austin MLS has recorded 19 single family home sales in Davenport.  Homes on average have spent 107 days on the market and have sold for an average of 91% list price this year.  The median sales price of a Davenport home is $671,000 or $202 per square foot, while the average price is $883,000, or $211 per square foot.   In 2010, the highest sale has been $2.2 million while the lowest sale is $510,000.

The newest section of Davenport Ranch, built in the last 10 years, enjoys the highest prices paid with larger, newer homes commanding the most per square foot and in overall prices paid.  Many of these custom homes have views of the hills and city.  Homes in Davenport built in the 1980s and early '90's are the most affordably priced and offer great values for the location and schools. Davenport Rim, a collection of garden homes built about 10 years ago, is another alternative for those who want newer construction in a smaller, low maintenance, more reasonably priced home.  Most homes in The Rim sell between $400,000 and $500,000.  There are also some lower priced condominium alternatives in the $300,000 range available in Davenport.

Many Davenport homes offer outstanding views and the architecture tends to be more traditional with some contemporary homes mixed in.  The exclusive enclave of homes on Churchill Downs Drive sits just off the entrance to Austin Country Club and these properties rarely come on the market.  Many of these homes back to the Club's golf course and exceed 7000 square feet.  

Davenport Ranch is popular for those who want to be near the Austin Country Club or employment centers along the 360 Corridor from SW to NW.  Neighborhood streets wind through the hills making the landscape varied and interesting, yet tidy and consistent. The schools are top rated and the community is quiet and well maintained. Some neighborhoods have access to community tennis and there are walking trails in certain parts of the neighborhood.  There are many price ranges in Davenport Ranch and many different lifestyles to suit home buyers.  

Check out Davenport Ranch and contact  me with your Davenport home questions.

Jeff Harris, Broker

512-917-8142

jeff@trueaustinhomes.com