September 2010 MLS home sales in Central Austin neighborhoods were a mixed bag. Overall, in the greater Austin metro area, home sales were down 33% compared to September 2009, but sales in West Austin and 78704 South Austin were basically unchanged.
West Austin and South Austin 78704 home sales were flat compared to the previous September, but those neighborhoods have enjoyed sales increases for the full year-to-date according to Austin MLS. The number of homes sold in neighborhoods like Tarrytown, Clarksville, Pemberton and Brykerwoods is up 31% in 2010. In 78704, which includes Travis Heights, Zilker, Bouldin, South Congress and South Lamar, home sales are up 19% so far this year. Total sales in East Austin are up 19% in 2010.These neighborhoods stand out as strongest, compared to UT area, North Central Austin, and Hyde Park where sales are down vs. last year.
Westlake, while softer more recently, overall has had a 23% sales jump in 2010. It's interesting to note that properties over $1,000,000 had the lowest average days on the market of all price ranges and made up 4 of the 15 total sales in Westlake in September. Larger homes are selling in Westlake compared to last year.
What's happening to prices? It really depends on the specific neighborhood and price range. Statistics show the average price per square foot sold in most Central Austin neighborhoods is down 3% -10% compared to last September. While the average and median prices of homes sold may actually be up, I think it's because larger more expensive homes are selling, which is bringing up the averages vs. last year. If you look at sales in an area like Crestview or Allandale in N. Central Austin, roughly the same size house is selling today as was selling at this time last year, and the average price per foot for the that average house is down 10%. In West Austin, the average square footage of a home sold in September is 8% larger than last year, and the price per square foot is down 4%.
Contact me to find out about your specific neighborhood or visit my website for a free Market Snapshot to instantly see trends on your block.
Jeff Harris
Realtor/ Mortgage Broker
True Austin Properties
