Seven Oaks - Austin TX- Hill Country Real Estate at its Finest is a very unique community just West of Austin. Seven Oaks is not within the city limits, sitting between Austin and Bee Cave TX on FM 2244- Bee Caves Rd.
Because Seven Oaks does not sit within the city limits of any city, there are no city taxes. Therefore, the tax rate is low, only a mere 1.8626%.
What does Seven Oaks have to offer? Look at these pictures! Seven Oaks offers topography like no other. There are hills within the hills. There are views as far as you can see. There are natural stone retaining walls. There is privacy with gates if you want privacy, or there is a community feel if you want to know your neighbors.
The market in Seven Oaks tells an interesting story. In the average prices in and around Austin TX, most buyers look for new and newer homes along with bigger and more features within a home. That's not what the multi-million dollar buyer is looking for...
The multi-million dollar buyer is looking for pre-owned and a "deal". Home owners have been in these homes and paid such and such price for them. Builders are still building and putting more and more money into the homes, and paying today's prices for the materials, so they ask for more.
In the past six months, Seven Oaks has only sold ONE brand new home and it was in July. The other six sales were all preowned homes. The average sold home had 4.85 beds, 4.71 baths, 3.14 living areas and 6250 sqft built in 2005. This average home sold for $1,608,057.
Currently, there are 16 homes actively for sale in Seven Oaks. These homes average 5.125 beds, 5.25 baths, 4.31 living areas and 7625 sqft built in 2008. This average home is asking $2,790,906.
Yikes! Can you see the differences??
The active listings are asking more than $1M more than the average property that sold. Granted, in the past six months, there was a property that sold for $2.75M along with another at $2.1M, so there are buyers in the higher range, but for the most part, buyers are toning down what they're buying and are looking for resale homes in this price range.
This is definitely not the norm in Austin TX Hill Country real estate.
**Are You Packed Yet?**
Austin TX Real Estate and the surrounding areas of Lakeway, Bee Cave, West Lake Hills, Cedar Park, Round Rock, Spicewood, Circle-C, Steiner Ranch, and everywhere in between... Hill Country Austin TX Real Estate and beyond. Whether you're buying or selling an Austin home, I'll be with you every step of the way.
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Copyright© 2009 By Donna Harris, All Rights Reserved. You may re-blog with links back to this post.
* Seven Oaks - Austin TX - Hill Country Real Estate at its Finest * was first published on donnahomesblog.com