Austin TX Real Estate - Hill Country Austin Lakeway Homes for Sale: Lake Pointe Market Activity, Austin- Bee Cave TX area

Lake Pointe Market Activity, Austin- Bee Cave TX area

The Lake Pointe community is outside the city limits of Austin and Bee Cave both, but most people refer to it as being in Bee Cave, TX as that's what the zip code is, 78738.

Lake Pointe Austin TX

Lake Pointe Austin TX

Either way, there are no city taxes so the tax rate is lower than several communities in the Austin, TX area.  Within the Lake Pointe Community, there are, in fact, two different tax rates so you better check before you buy to make sure you know which one is yours.

The differences aren't that much, 2.016% verse 2.196%. However, on a $500,000 house, that's a difference of approximately $900 for the year.  Those decimal points add up, don't they!

For the area, Lake Pointe is considered an older neighborhood with homes mostly built in the mid-1990's and into the early 2000's.  This is the age of neighborhood where many people are selling to move-up. 

Within the commuity, there are different sections including a section called The Pointe that is gated. A friend of my husband's just sold her house in Lake Pointe to buy another house in Lake Pointe's gated section, so when people are "moving up", they aren't necessaryily "moving out" of the community.

The community has a great pool area with a kiddie pool and an upper deck for picnics or just sitting and relaxing.  Remember, the pool is closed on Mondays for maintenance.

Lake Pointe Austin TX

Here are some market statistics:

Active Listings: There are currently 35 Active listings with an average age built in 2000, average size of 3477 sqft, with an average asking price of $571,507 at $156.87 a sqft and on the market for 79 days.

Pending Listings: There are currently 6 Pending listings with an average age built in 2002, 3496 sqft, asking $593,225 at $164.27 sqft for 215 days on the market.

Sold Listings: In the past 6 months, there have been 24 houses sold with an average age of 1998, 2771 sqft, with a sales price of $348,334 at $125.12 sqft and on the market for 122 days.

Withdrawn & Expired Listings: 30 listings did not sell and they averaged age of 1999, 3186 sqft, $481,836 at $144.51 sqft for 164 days on the market.

What do the above numbers tell me??  It tells me people are going for the smaller, older, less expensive homes in the neighborhood rather than the bigger, newer homes. Maybe the older ones are priced less because they need some updates and the new owner gets the pleasure of updating instead of the previous owner doing them and adding them to the price?

Maybe the less expensive ones are being bought by the first time home owner taking advantage of the historically low rates and the $8k tax credit?

My opinion?  These home owners are overpriced and the days on the market are going to tick up and up.  Granted, the average for the active listings is "only" 79 days, but look how long it took for the Pending proeprties to go under contract, 215 days!  Price at their values, and you'll get them sold!

**Are You Packed Yet?**

Donna Harris, REALTOR®
RE/MAX Austin Skyline
www.DonnaHomes.com
Donna@DonnaHomes.com

Austin, TX and the surrounding areas of Lakeway, Bee Cave, Westlake Hills, Cedar Park, Round Rock, Spicewood, Circle-C, Steiner Ranch, and everywhere in between... Whether you're buying or selling, I'll be with you through the entire process.

Comment balloon 3 commentsDonna Harris • June 04 2009 09:35AM

Comments

Donna,

Looks like another nice area to work.  And that you have done a good job of analyzing this market.

Posted by Richard Weeks, REALTORĀ®, Broker over 9 years ago

Richard, Thanks!  NUmbers speak for themselves, but sellers don't seem to have the right people explaining them to them.

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) over 9 years ago

The largest homes can take longer to move, however it only takes one buyer to make it sold. I work a lot in this neighborhood and have seen drastic differences in PPSF, however some homes have big views and that can add big dollars to the price very rapidly. There are some homes in Lake Pointe listed  and sold under $300K, and some homes sell around $100-$110 PSF. You just have to know where to look.

 

Posted by Betina Foreman, Realtor, C.N.E., with WJK REALTY (WJK Realty) over 9 years ago

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