Austin Real Estate Blog

Austin Area Market Summary - From Coldwell Banker Austin

December 2007:

Compared to 2006, the number of single-family homes sold dropped by 8%. During the same time, the average sales price increased 6% to $250,552.

The total number of single-family listings is up 10% compared to this time last year.

The months of inventory in the Austin market has increased to just over 5 months, which is beginning to favor buyers.

The average days n the market for single-family homes remains steady at 62.

The Austin real estate market has experienced a decline in transactions through the MLS for the first time in many years. That said, Austin’s average and median prices continue to increase. The Austin area continues to be rated in multiple categories among the nation’s top cities to live.

Georgetown: (average price is up 7% from a year ago to $224,353) Sales of single-family homes for 2007 are down 5.5% compared to 2006. There is 5.5 months of inventory and the number of active listings has increased very slightly to 484.

Round Rock: (average price is up 6% from a year ago to $211,146) Single-family home sales are down 5.6% compared to 2006. There is a balanced 4 months of inventory of homes available. Compared to last month the number of active listings has remained steady at 911. This area is among the top 20 most active Austin MLS market areas.

Cedar Park/Leander: (average price is up 10% from last year to $199,855) Single family home sales decreased 9% for the year and the active inventory is balanced at 3.6 months. The number of active listings is steady from last month to 670. This area is among the top 25 most active Austin MLS market areas.

North/Northwest: (average price for 2007 compared to 2006 is up 8% to $309,136); single family home sales in this area are off 17.6% compared to last year. The number of active listings is down 11% compared to last December, and steady from last month at 273 units. This represents a healthy 2.6 months of inventory, which favors Sellers. This area is in the top 20 most active Austin MLS markets.

Westlake: (compared to 2006, the average sales price rose in 2007 by 10% to $790,436) Single-family home sales in this area are down 12% compared to this time last year. Currently, there are 219 active listings; this is down 10.6% compared to last December. There are 5.6 months of inventory, which slightly favors buyers.

Southwest: (the average sales price for 2007 compared to 2006 is up 12.8% to $228,546) Single-family home sales are down 10.7% compared to this time last year. There is a 2.3 month supply of homes, which favors Sellers. The number of active listings is up 2% to 433. The Southwest area is among the top 10 Austin MLS markets.

South: (the average sales price compared to last December is up 11% to $150,081) Single-family home sales are identical to 2006, and there are 3.3 months of inventory, which reflects a balanced market. Active listing inventory is steady at 177.

Lake (South shore): (the average sales price for 2007 is up 7.7% over 2006 to $477,681) the number of homes sold this year is 18% less than last year. The months of inventory has dropped slightly to 9.9 months, which favors Buyers. There are 732 homes for sale, which is slightly less than last month, and 34% more than this time last year. With the average sales price continuing to increase and inventories at high levels, this is an indicator that buyers are finding greater value in higher priced properties.

While I’ve never sold a McCrary home, I’m sure several of the agents in my office who have been around for 20+ years have. I’ll check with them and post some update material, but for now, check out the news release and the McCrary website. They seem to build some pretty impressive homes.

Luxury Home Builders McCrary Homes Announce Return to Austin, Texas Area Building After a twenty year absence, McCrary Homes announces a return to Austin, Texas area home building. These new high-end homes feature the latest designs and innovative technology, classic luxury homes for the future.

(PRWEB) January 30, 2008 — McCrary Homes, a family-owned company specializing in the building of luxury new homes, announces a return to construction in the Austin, Texas area after a twenty year absence. The luxury new homes are being built in Georgetown, Texas, minutes from Austin, in the much-desired Williamson County North West Corridor, cited as one of the fastest growing counties in the United States.

Business owners Jerry and Linda McCrary spent their twenty year absence from Austin area home building watching trends and publishing home-related magazines. When they decided to return to their home, and with the help of their son Jeff recapture where they left off in the eighties, the time away spent trend-watching was able to give the company an edge in the highly competitive Georgetown market, selling their first spec in the framing stage. The spec was a combination of the top features of various award-winning luxury new homes featured in their magazines.

“Our homes are built as if we were going to live in them ourselves,” said company co-owner Linda McCrary. Linda’s specific role within the company is to design and select the interior colors, flooring, cabinets, and other features which turn the inside of each home into a true work of art. Her husband Jerry and son Jeff take care of the construction, with years of expertise in the field.

As luxury home builders moving deeper into the twenty-first century, the principals of McCrary Homes have used the time off also to research other innovations besides those of aesthetic design.

Linda McCrary added, “We are on the cutting edge of new technology to make life easier and more energy efficient.” The new homes from the luxury home builders company feature items that include tankless water heaters, high efficiency appliances and plumbing fixtures. McCrary Homes works with landscapes that are drought tolerant and deer resistant.

For more information about these Georgetown, Texas luxury home plans, visit the company online at McCraryHomes.com (http://www.mccraryhomes.com/).

About McCrary Homes:

With a motto of “Only the best will do,” McCrary Homes is a company offering new homes in the Austin, Texas area, in the $600,000 price range and above. A family-owned business with great attention to detail, McCrary Homes was started by husband and wife team Jerry and Linda McCrary, along with their son Jeff, after a twenty year absence from the home-building business, spent doing research and publishing magazines for the industry. Now, each house they create is a work of art and personal passion, designed for the most discriminating home buyer.

###