Lake Pointe in Bee Cave Austin TX has some great year-end sales for 2011. People always ask if the real estate market is getting "better". What does "better" mean? It's very subjective...
I decided to pull up sales data in Lake Pointe for all of 2010 to compare it to all the sales data for 2011. For full disclosure, the charts and data below do NOT include the custom section in the back nor the gated section of Lake Pointe.
Here is the data for the Days on the Market:
The big blue sections in both charts show the amount of homes that sold in under 30 days. Did you know a "Buyer's Market" is recognized when the average is 6+ months on the market? In both years, the 1 month mark showed quite a bit of activity. This past year 2011, over 52% of sales were in under 1 month. I think that shows a "better" market than a mere (sarcastic) 38% selling in under a month in 2010. Not a "buyer's market"...
In 2010, there were 50 sales with 0 foreclosures. In 2011, there were 44 sales and 2 foreclosures. If you look at these numbers, you think 2010 was a "better" year, and 2011 was worse... but now combine this information with the above information. Less sales in 2011, but they sold faster... have you read between the lines yet??
Supply and Demand! Supply and Demand happens when you have more buyers for the available inventory...
Now, take that information and look at the below charts:
In 2010, the 38% of houses that sold in under 30 days sold for about 97.7% of asking price. The 52% of houses that sold in Lake Pointe in under 30 days in 2011 sold for about 98.6% of asking price. Is that "better"? In 2011, houses that sat on the market more than 120+ days were getting 97.3% of asking price, whereas houses in 2010 that sat for sale on the market for over 120+ days received a mere 95.9% of asking price. Is that "better"?
Better is a subjective term. Houses for sale in Lake Pointe did a fantastic job in 2010, and 2011 continued the trends that 2010 set. So, yes, real estate in Lake Pointe Bee Cave Austin TX is doing "better" than 2010, but either way, it's been a fairly strong market! If supply and demand does become an issue, we're going to see some great appreciation in 2012!
If you're looking to buy or sell in the Lake Pointe or surrounding Austin areas, please call me today!
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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.
* Lake Pointe - Bee Cave Austin TX - Market Report 2010 vs 2011 * was first published on donnahomesblog.com.