Austin TX Real Estate - Hill Country Austin Lakeway Homes for Sale: Lake Pointe Market Report - A Calming Summer Market

Lake Pointe Market Report - A Calming Summer Market

The Austin market went a little "funny" on us this Summer. Traditionally, Summer is a very busy time of year as people relocate to new places and they want to get settled in before the next school year starts.

However, this Summer wasn't what we're used to. Things slowed a little. It didn't slow to a crawl or anything, but houses in many areas did sit on the market a little longer than they were earlier in the year and things just calmed down a bit.

To understand what I'm saying, look at the two graphs below representing Lake Pointe in Bee Cave Austin TX. One is the Days on Market graph for the beginning of the year through May 31st and the second is from June 1 through today.

lake pointe bee cave austin tx real estate homes for sale days on the market  

lake pointe bee cave austin tx real estate homes for sale days on the market

The first thing you'll notice is the blue section on both is very large. This is the part that represents "under 30 days" on the market. The next section is red that represents "30-60 days" on the market.  They both show 13 properties sold under 30 days, but note the percentage of all the properties sold.  At the beginning of the year, that percentage was almost 77%. Over the Summer, it was a mere 65%.

No, 65% is nothing to scoff at, but it does represent a significant drop in how quickly the market is moving at the current time.  (the green in the second chart is actually equal to the yellow in the first chart- the system wouldn't use the same colors).

Why did Summer slow down? No one seems to know. There are agents all over the Austin market asking the same questions over and over.  Maybe this is for the better. A calmer market makes for a more stable market. I personally believe it was going to be hard to sustain the craziness of the multiple offers within hours on the market. Stabilizing will put things back into perspective and allow people to breathe.

**Are You Packed Yet?**

 

Donna HarrisREALTOR®
Donna Homes, Owner

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Copyright©2014 By Donna Harris, All Rights Reserved. You may re-blog with links back to this post.
*Lake Pointe Market Report - A Calming Summer Market * was first published on donnahomesblog.com. 

Comment balloon 4 commentsDonna Harris • September 08 2014 11:43AM

Comments

Great post and with terrific information. Have a fantastic day ahead.

Posted by David Saks over 3 years ago

Thank you David. I always try to actually explain the market and not just post graphs.

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) over 3 years ago

We have been wondering the same thing. I have said to a couple people that it seemed almost like the market was 'normalizing,' after some crazy up and down years.

Posted by Holly Weatherwax, A Great Real Estate Experience ( Associate Broker, Momentum Realty) over 3 years ago

Holly, We haven't had "up and down". We've had up and up and even further up... and then June hit and it just leveled off, no down.

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) over 3 years ago

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