July 2011 Real Estate Market Update -- North Central Austin

If you are looking for a home near (or just north of) downtown Austin, around the Hyde Park area--here is my current market update and information that may be helpful in your market analysis. This area is one of Austin's oldest and most recognized downtown communities. One of the early predecessors to a modern day master planned community, this area had one of Austin's first commuter rail lines for early Austin suburban residents. Today, this real estate quadrant between I-35 and Mopac, and 2222 and 38th streets is on the edge of downtown Austin--just a few blocks north of the UT campus.

During the first seven months of 2011, homes sales have been steady.

The 2011 year-to-date (YTD) numbers:

• Currently active listings: 122 single family homes
• Median home price: $350,720
• Median home features: 1468 sf, 3 Bedrooms, 2 baths
• Median year built: 1948 (some homes date back to the 1900's)
• Pending contracts: 41
• Homes sold YTD: 151
  
•  This gives us a consumption rate of about 22 homes a month
• This puts this area in a slightly favored seller's market
• In this market, the homes that show well and are priced right, tend to be the homes that sell fastest and sell for market value
• Median DOM: 45 days on market
• Median size: 1331 sf
• Median ppsf: $222.64 psf
• SOLD Price as a % of Listing price: 96.6% 
• (If you need help making sense of any of this information, please contact me).

Buyers migrate toward the Hyde Park area for a number of reasons. Old Austin charm. Proximity to downtown amenities, entertainment and restaurants. At the end of the day, living near downtown is a lifestyle choice for home owners.

If you are looking for a home in Hyde Park area or near Central Austin, or considering selling your home in the area, I would be honored to help you in your Real Estate needs.

Tim Thornton, Realtor ®
Top Producer 2010, 2009, 2008
Century Club member
Zip Realty, Inc.
Austin, Texas
(512) 914.4665

Tim.Thornton@ZipRealty.com