Avery Ranch Real Estate Market Report

September 2020


Just when we thought things couldn’t get any hotter in Avery Ranch along came September and the market got even better. Our market is typically not as seasonal as you might expect but especially this year we have seen no signs of the market cooling off this fall.

This is a challenging market for buyers, especially buyers who do not have professional representation from an agent who is keeping up with how fast the market is moving. Almost every day a potential buyer will tell me they aren’t in a hurry. What they don’t understand is they should be in a hurry before they are priced out of the market. The median price jumping up to $414,500 which is the first time over $400,000 shows the bottom end of the market has shown tremendous appreciation since last year. The supply and demand statistics lead me to believe prices will continue to go up.

A few of the interesting statistics for September…The largest home and the home that sold for the highest price was on the golf course in Creekside. The lowest priced home per $/SF was in Brookside. The highest priced home per $/SF was a small single-story home in Glenfield with a large back yard. Lot size is definitely something buyers are willing to pay a premium for in this market.

 

 

 

August 2020


It’s hard to believe there are over 3 homes under contract for every home that is available for sale. With 31 homes selling in August and only 10 available for sale that gives us an absorption rate of only about 2 weeks. What that means is at the rate we are going if no other homes were listed all the homes would be under contract in about 2 weeks. This is an indication of a strong seller’s market and we are likely to see prices continue to increase as interest rates are also expected to stay low for the foreseeable future.

The median price increasing 15.7% is a startling number. The median price means if you lined up all the sales for the month the home that sold for $391,000 would be right in the middle. When I see that it demonstrates the price appreciation on the low end of the real estate market. Anyone who is a potential first-time homebuyer and has been dragging their feet should consider buying sooner than later before you are completely priced out of the market. The average price being up 24.1% is a little misleading. We are starting to see some higher end homes coming on the market which is raising the average price. That does not mean your home is worth 24.1% more than it was a year ago.

The highest priced home, largest and the house that sold for the highest $/SF were all in Heritage Oaks. The lowest priced house per SF sold was in Waters Edge and was in very poor condition. The lowest priced home sold was in the Commons behind McDonalds.

If you have any questions about how these statistics impact your house call me at 512-791-7473 or email eric@koparealestate.com.

 

 

 

July 2020


We were expecting to see more sales be reported in July. 10 additional sales with an additional 38 homes under contract shows the market is strong. The lower average sales price and median sales price was due to an unusual number of condos and smaller investment properties selling. I expect we will see further selling as landlords concerned with tenants not being able to pay rent will decide to sell when their leases expire. The lowest priced home sold in July was a condo in The Greens and the highest priced home was a 5 bedroom home in Brookside. The largest home sold for almost $100,000 under asking price.

As always, we're always ready to work for you and your family. Whenever you are ready to talk about your home call/text Eric Peterson with Kopa Real Estate at 512-791-7473 or email eric@koparealestate.com.

 

 

 

June 2020


Last month we talked about watching the supply/demand numbers to see where the market is going. This month we are starting to see some of those home sales be reported showing strong numbers for June and we expect even stronger sales in July.

The highest price home and first resale home sold over $1 million was sold in the gated Reserve section of the neighborhood backing up to the golf course. The lowest priced home was a condo in Ingleside.

As always, we're always ready to work for you and your family. Whenever you are ready to talk about your home call/text Eric Peterson with Kopa Real Estate at 512-791-7473 or email eric@koparealestate.com.

 

 

 

May 2020


Whenever you see real estate statistics here or in the newspaper the headlines focus on what’s happened in the rear-view mirror. If you are planning to sell or buy real estate that might be interesting but the current market conditions will have more of an impact your plans. This month we are highlighting the supply and demand statistics. With almost 2 homes under contract for every active listing we are in a strong seller’s market.

What this means for sellers is despite the ugly numbers you are seeing for April and May sales you should have every expectation you can sell your home for a great price. What this means for buyers is if you are waiting for the market to crash you are likely going to be disappointed and will pay more for the same home in the future.

The highest sales price in Avery Ranch was a home sold in Northwoods at Avery Ranch and the lowest priced was a condo in The Commons. In the rest of 78717 the highest sales price was a home in Highland Horizon and the lowest priced home was in Oak Brook.

As always, we're always ready to work for you and your family. Whenever you are ready to talk about your home call/text Eric Peterson with Kopa Real Estate at 512-791-7473 or email eric@koparealestate.com.

 

 

 

April 2020


Only 10 homes sold in April which is down from 25 last year. That’s about what we’d expect to see during a pandemic. With 22 homes under contract as of 5/1 things should start looking better going forward. However, we are seeing homes that aren’t selling including 3 homes in April that didn’t sell and were taken off the market. In many cases it’s not surprising they aren’t selling. Although we are optimistic, we have definitely entered a more professional market. The biggest lie in real estate is who you hire to sell your home doesn’t matter, many sellers are finding out that isn’t true. The lowest priced home to sell was a condo in The Greens and the highest priced home to sell was a single-family home in Pearson Place. With the average sales price up almost $90k and the median sales price up $78k there has been good appreciation despite the economic conditions. The first home to sell over $1 million is also under contract in Avery Ranch. That’s pretty exciting!

As always, we're always ready to work for you and your family. Whenever you are ready to talk about your home call/text Eric Peterson with Kopa Real Estate at 512-791-7473 or email eric@koparealestate.com.

 

 

 

March 2020


It’s never recommended to use statistics for the whole area to make decisions about your house. Due to the small number of sales the statistics can be misinterpreted. For example, the average sales price was slightly down this month compared to March, 2019. That was due. more to a few investors who owned small condos and smaller homes deciding to sell rather an overall decline in the market.

In March, 2020 the smallest home sold was a condo in the Commons and that also had the lowest sales price of $205,000. The largest home sold was a house with a pool in Northwoods that was 3,047 SF and sold for $650,000.

We expect to see a large amount of activity in the market once things go back to normal. If you are considering buying or selling in the next few months it will be important for you to talk with us about what we are seeing in the market and our expectations for your property.

As always these are general real estate statistics. Every home is different and you should always get advice about your specific home and situation. Whenever you are ready to talk about your home call/text Eric Peterson with Kopa Real Estate at 512-791-7473 or email eric@koparealestate.com.

 

 

 

February 2020


During the January report I mentioned the statistics made it look like the market was going down but based on the number of pending sales we knew the February report would show a truer picture of the market. That turned out to be correct.

In February we had 7 homes sell for prices of $500,000 or higher in the Avery Ranch area. The number of homes sold was up 5 with the average $/SF being up almost 20%. The average sales price and median prices. were up almost 8%.

With 14 homes under contract and only 8 on the market we are still in a solid sellers’ market.

The lowest priced home was a condo in the Plaza Townhomes behind Brooklyn Heights pizza while the highest priced home sold was in Northwoods at Avery Ranch.

The smallest home sold was in the gated section of Pearson Place and the largest home sold was in Northwoods at Avery Ranch.

The lowest price per SF was also the condo in the Plaza Townhomes and the highest price per SF was in the gated section of Pearson Place.

As always these are general real estate statistics. Every home is different and you should always get advice about your specific home and situation. Whenever you are ready to talk about your home call/text Eric Peterson with Kopa Real Estate at 512-791-7473 or email eric@koparealestate.com.

 

 

 

January 2020

 



Let’s look at the Avery Ranch area real estate market statistics for January 2020.

As we always point out at this time of the year you have to be careful reading too much into the market statistics. There are not enough sales to make the figures statistically significant. If you have any questions about the value of your home or you are considering buying a home contact us for a more accurate estimate of the expected sales price.

The number of sales was down as was the average sales price and median price. This is largely due to 3 of the 5 homes sold being smaller condos. Based on what we are seeing the market is up 6-10% over last year depending on the floor plan and section of the neighborhood.

The highest priced home sold was in Morningside at Avery Ranch and only $406,000. That number will look different for the February market report as there are currently 7 homes under contract at higher prices than $406,000.

The smallest home sold was a condo in the Commons at Avery Ranch at only 1,090 SF and sold for $202,500.

Kopa Real Estate has helped over 150 families sell and buy homes in Avery Ranch. Whenever you are ready to talk contact Eric or Joyce Peterson at 512-791-7473  or email eric@koparealestate.com.

 

 

 

This Avery Ranch market report includes data for Avery Ranch, Northwoods at Avery Ranch, Pearson Place at Avery Ranch and The Commons Avery Ranch condominiums. Buyers should verify neighborhood boundaries and HOA amenities prior to purchasing a home.

 

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