Avery Ranch In Austin Texas Subdivision Market Report - March 2010 Statistics

Avery Ranch is currently in the beginning stages of a sellers market

. This highly desirable community in Northwest Austin is close to just about everything in the Austin area.

Market Conditions have greatly improved over a year ago and I will review these current market metrics and explain what they mean so that you can get a better understanding of how this market is doing and more importantly what is causing the improvement.

Median Sold Price is up 8%

Median Sold price in Avery Ranch is currently averaging just under $240,000 compared to a year ago when it was just under $222,000. This is being caused by increased demand and a reduction of homes available in the subdivision. More on that below.

Median Price of For Sale Properties is down 18%

The Average For Sale price for a home in Avery Ranch was $280,000 a year ago compared to almost $240,000 today.

Number of Sold Properties is up 21%

The number of total homes sold in Avery Ranch is up from 14 last year to 17 this year. This activity is being helped by the home buyers credit that is coming to an end for those who are under contract by the end of April 2010 and close by the end of June 2010. What happens in July and August will really tell us how the market is recovering because the home buyer rebates will be over at that time.

Number of Under Contract Properties by Month is unchanged from last year.

Under contract properties were the same in March as compared to a year ago but the next metric shows that listings in Avery Ranch are increasing.

Number of New Properties Listed by Month is up 26%

With new property listings up a healthy 26% the next couple months will really help us determine how healthy the Avery Ranch Real Estate Market is and where it is headed.

Number of For Sale Properties by Month is down 18%

Although the number of new listings is up 26% there are still less homes on the market than this time last year. This helps sellers because there is still less competition in the Avery Ranch Real Estate Market.

Number of Expired Properties by Month is down 33%

Decrease in expired listings shows that the market prices are stabilizing and listing prices more closely resemble the actual sales price that can be supported by the market in Avery Ranch.

Average Days on the Market is down 32%

Another promising statistic for home sellers in Avery Ranch shows the average days on the market is down from 80 days last March to now averaging about 54 days.

Average Months Supply of Inventory is down 22%

Average Months supply of inventory in Avery Ranch is currently less than 3 months compared to 3.5 months a year ago with average days on market currently 54 days compared with 80 days in March of last year.

All in all these are some great numbers for residents of Avery Ranch looking to sell their homes this spring or summer. We are in no way out of the woods and only time will tell how the market reacts to the ending of the home buyer tax credits. We can look at the hard data above and drive a lot of hopeful information.

I will update these reports monthly as a service to the residents of Avery Ranch. If you have any questions on anything in this article please feel free to call or email myself or my team at Austin Real Estate Scene - Keller Williams. We are here to help the communities we serve.

http://www.AustinRealEstateScene.com

by: Don Groff

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