— Great Hills Sales Stats

November home sales were a nice improvement in our Great Hills (2-3k sf homes) neighborhood with: only 3 homes for sale going into the slower winter months; only .80 months of inventory; 7 pending sales (75% over our YTD avg); lower days on market for 2 categories; a 70% Activity ratio (56% over our YTD avg); and 4 home sales (42% over our YTD avg).  This is bucking the trend throughout most of Austin and the nation which are slowly shifting from a strong seller’s market.

Larger homes (3-4k sf) in our Great Hills neighborhood didn’t fare as well as the smaller ones with: No homes for sale; No homes sold (2nd month this year); and only 1 pending sale (vs. our 1.6/mo YTD avg).  

Did you know that 42% of homes sold in the Austin metro area sell during the 50% of the year from October to March?  A common myth is that you should only sell your home during the spring/summer months, but the above statistic proves that wrong.  Homes that are in great condition, staged properly and priced right sell year-long in our area.  Call/text the Thomas & Kauffman Team at 512-730-1252 or email us at info@AustinTxHomeSales.com to get your free, no-obligation market analysis (CMA) to see how much you can net from your home sale.  

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October was another rough month for home sales in our Great Hills (2-3k sf homes) neighborhood with only 2 green categories:  days on market for listed homes and 5 pending sales (+35% over our YTD avg).  however, we continue to have a slower market the last half of 2018.  Of biggest concern is our price/sf for homes sold….it has been lower than 2017′s average for the past 3 months and for 6 of this year’s 10 months.


Overall, October was a better month for our larger (ie-3-4k sf) homes with only 3 yellow categories:  only 1 home sales and they got 96.7% of their asking price (over 2% less than our YTD avg) and our days on market were high for our 1 listing.  Otherwise, things looked pretty good with many more green categories.

For those home sellers who aren’t sure about selling this year, or just want a general idea of their home’s value, I recommend the “Market Snapshot” program. This free service pulls data from our MLS (Multiple Listing Service) for similar homes in your neighborhood on a regular basis (every 2, 4, 6, 8, or 12 weeks) and emails it to the homeowner. Create one yourself for your home here: Market Snapshot. It takes about 30 minutes to receive your report. Or, let me know if you–or someone you know–wants me to create a Market Snapshot for their home.

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Like much of the Austin metro, September home sales in our Great Hills neighborhood (2-3,000 sf) slowed down:  inventory jumped to 4.0 months; days on market were high in 2 categories; we only sold 1 home and they got 1% LESS than 2017 sellers did and it took 72 days for them to get an offer.

Larger homes in our Great Hills neighborhood (3-4,000 sf) fared about the same as our smaller homes with only 1 home pending; a 25% activity ratio; and we sold no homes (we only sold 1 home the past 2 months while our YTD average/month is 2.33).  Our bright spot is our days on market dropping.

Did you know that 42% of homes sold in the Austin metro area sell during the 50% of the year from October to March?  A common myth is that you should sell your home during the spring/summer months, but the above statistic proves that wrong.  Homes that are in great condition, staged properly and priced right sell year-long in our area.  Call/text the Thomas & Kauffman Team 512-730-1252 or email us at info@AustinTxHomeSales.com to get your free, no-obligation market analysis (CMA) to see how much you can net from your home sale.  

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July wasn’t a great month for us in our Great Hills neighborhood (2-3k sf homes) with mostly yellow categories like: 7 homes for sale (+49%); 7 months of inventory (+318%); Activity Ratio dropped to 30% (-43%); and we only sold 1 home (-67%).  Our 1 seller did get under contract in only 7 days and sold for 4.2% over list price, however.

For the most part, larger homes in our Great Hills neighborhood fared better than smaller ones with: only .80 months of inventory (-33%); 5 homes sold (+75%) in only 23 days (-46%) and for $219.58/sf (+3.1%).

For those home sellers who aren’t sure about selling this year, or just want a general idea of their home’s value, I recommend the “Market Snapshot” program. This free service pulls data from our MLS (Multiple Listing Service) for similar homes in your neighborhood on a regular basis (every 2, 4, 6, 8, or 12 weeks) and emails it to the homeowner. Create one yourself for your home here: Market Snapshot. It takes about 30 minutes to receive your report. Or, let me know if you–or someone you know–wants me to create a Market Snapshot for their home. 

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June home sales in our Great Hills neighborhood (2-3,000sf homes) was good with more sales over list price and lower days on the market.  With half of the year behind us, here is how we look for some categories when compared to 2017:  Positives – Inventory was down 54%; days on market was down for pendings and sales (60% & 34% respectively); pendings were up 26%; and sales were up 60%.

Larger homes (3-4k sf) in our Great Hills neighborhood actually fared better than the smaller ones with lower months of inventory; higher pending sales…days on market also dropped with all 3 categories.   With half of the year behind us, here is how we look for some categories when compared to 2017:  Positives – actives up 60%; sales up 76%; days on market down for all 3 by 12-24%; and inventory down 66%.  Our negatives were pendings down 10% and sales price/sf down 4.6%.

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Another mixed bag for home sales in our Great Hills (2-3k sf) in May.  Good trends included all 3 days on market looking better; our 2 home sellers got 1.7% OVER their asking price and their avg price/sf was 9.3% higher than 2017 sellers received.  Our negatives are 5 homes for sale (vs. our 3.6/mo YTD avg) our inventory jumped to the highest of the year; and we only sold 2 homes (1/3 less than our YTD avg).

Larger homes (3-4k sf) in our Great Hills neighborhood fared much, much better than smaller homes….ALL main categories had positive trends (ie-green)!  I run home sales statistics for 5 NW Austin neighborhoods–all at different price points–and I can tell you how rare it is for a community to get all greens!

It’s not too late to get your home on the market to catch our spring/summer peak selling season! See just some of the steps we take to get your home sold quickly and for top dollar: Marketing Plan to Sell Your Home. Contact me today so I can create a free, no-obligation market analysis of your home (called a CMA) to see how much you would net from the sale of your home.

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Overall, an improved month for home sales in our Great Hills neighborhood (2-3k sf homes) in April:  We had 7 homes sold (more than double our YTD avg); our days on market fell for all 3 categories; and our inventory stayed low at only .70 months (less than 6 is a seller’s market).

Larger homes in our Great Hills neighborhood fared better than others with: 3 pending sales (67% higher than our YTD avg); our Activity Ratio jumped to 60% (double last year’s avg); our 2 home sellers got 3.5% more than their asking price; and our days on market for 2 categories was down.   Our only real negatives were the 172 days and 3.7% LOWER price/sf our 2 sellers received.

Are you considering selling your home, but are concerned that you will have difficulty finding a replacement in the Austin area due to our low inventory?  This is a common question we get when asking someone if they want to sell their home and capture the equity.  Our team has 4 different proven methods to handle the changeover for you to reduce any stress associated with the sale of your home & purchase of the next one. Contact us today so we can go over the best option for your situation. Phone: 512-730-1252 or via email: info@AustinTxHomeSales.com.

 

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2-3,000 sf homes in our Great Hills neighborhood fared well in March with only 2 homes for sale (vs. our 3.8/mo in 2017); our inventory dropped to only .50 (less than 6 is a seller’s market); our Pendings jumped to 8 (vs. our 2.9/mo last year); our Activity Ratio shot up to 80%; and we sold 4 homes (vs. 2.08/mo in 2017).  Our only real negatives were days on market and our average price/s was 5.7% LOWER than 2017 sellers received.

Larger homes in Great Hills also didn’t fare as well last month with 7 homes for sale (vs. our 4.3/mo YTD avg); our inventory jumped to 3.5 months; we only sold 2 homes (vs. last year’s 3.4/mo avg); and our 2 home sellers got 7.2% LESS/sf than sellers got last year.  Our Pendings did jump and our Activity Ratio rose which are both good.

Would you like to know your home’s approximate value, recent sales in your neighborhood, and your estimated net equity…both today and on a regular basis in the future?  With ePropertyWatchTM, that information (and much more) comes directly to you.  This program is from CoreLogic who provides property AVMs (Automated Valuation Model) for 90% of the home mortgage lenders in the United States…they are the trusted source for accurate home valuations.  ePropertyWatchTM has information on over 100 million homes in the United States and each subscriber can have up to 3 properties on their report list.  So, whether you own a home in the Austin metro area, or anywhere in the U.S. you can use this service to keep tabs on your property value and net equity.

Best of all, it is a FREE service for you to use!  Click here to learn more about this program and to sign up for your free report: ePropertyWatch, or, click here to go directly to the sign-up page:ePropertyWatch-sign up form.  Feel free to forward this link to any friends, family, or coworkers you know…remember, any homeowner in the U.S. can utilize this service!  You have my assurance that I will NOT use any email address to send someone spam email!

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Overall, February was an improved month for our Great Hills home sales (2-3,000 sf) with only 1.5 months of inventory (2017 avg = 2.8); 5 Pending home sales (2017 avg = 2.9); Activity ratio rose to 63% (2017 avg = 43%); and our days on market improved in 2 categories.  Days on market continue to be very high, however, for homes for sale.

Larger homes (3-4,000 sf) had a mixed-bag of home sales results.  On a positive note: we had a low number of homes for sale (2017 avg = 6.2); an extremely low inventory of only .70 months (2017 avg = 3.8) and we sold 3 homes (2017 avg = 1.42/mo).  Our negatives were no Pending sales (future indicator of the market); our days on market remains high; and our 3 home sellers got only $187.37/sf which was 12% LOWER than 2017 home sellers received.

If you are considering selling this year, contact me to receive a free, no-obligation market analysis (CMA) of your home. April, May and June are the 3 best months of each year to put a home on the market to sell.

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Smaller homes in our Great Hills neighborhood had another tough month in January with high days on market for our homes for sale and no homes sold for the month.  That means we’ve only sold 2 homes in the past 3 months.  our Activity ratio, however, jumped to 50%, so maybe things are turning around.

Overall, January was another good month for larger homes in our Great Hills neighborhood like December, so maybe we’ve shaken off the doldrums we saw the middle of 2017.  The number of homes we had for sale is good, both inventory & Activity Ratios were good,  our 2 sales were above last year’s average and our days on market have fallen.

Would you like to know your home’s approximate value, recent sales in your neighborhood, and your estimated net equity…both today and on a regular basis in the future?  With ePropertyWatchTM, that information (and much more) comes directly to you.  This program is from CoreLogic who provides property AVMs (Automated Valuation Model) for 90% of the home mortgage lenders in the United States…they are the trusted source for accurate home valuations.  ePropertyWatchTM has information on over 100 million homes in the United States and each subscriber can have up to 3 properties on their report list.  So, whether you own a home in the Austin metro area, or anywhere in the U.S. you can use this service to keep tabs on your property value and net equity.

Best of all, it is a FREE service for you to use!  Click here to learn more about this program and to sign up for your free report:ePropertyWatch, or, click here to go directly to the sign-up page:ePropertyWatch-sign up form.  Feel free to forward this link to any friends, family, or coworkers you know…remember, any homeowner in the U.S. can utilize this service!  You have my assurance that I will NOT use any email address to send someone spam email!

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Homes sized 2-3k sf in our Great Hills neighborhood didn’t fare as well in December as the larger homes.  We had yet another mixed-bag month like we’ve had the last half of 2017:  On the plus side, our inventory dropped to only 2.0 months (30% lower than our YTD avg) and our 2 home sellers got $258/sf which is a whopping 25% more than 2016 sellers got!  However, days on the market continue to be higher and we didn’t have any pending sales (ie-have contract but not closed).  In fact, we’ve only had 2 pending sales in the past 4 months.

How did we finish 2017?  Below are our averages for each category last year:

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We ended the year with the best month of the year in our Great Hills (3-4k sf homes) neighborhood…only 1 yellow category.  On the plus side, we had only 3 homes for sale (our of 768) going into the slower winter months; only 1.5 months of inventory (less than half our YTD avg); our 40% Activity ratio was 3rd highest of the year; our 2 home sellers got 9.1% OVER their asking price and sold in only 14 days at @266.87/sf (31% over 2016 seller average).  Now, the home sale figures were skewed a bit by the sale of a new home at The Pinnacle at Great Hills which is across from our golf course.  This 3,200sf property closed for $1.2M!

How did we finish 2017?  Below are our averages for each category last year:

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Smaller homes in our Great Hills neighborhood fared about the same as larger ones in November: Only 1 pending sale; higher days on market; lower Activity ratio (43% lower than our YTD avg of 46%); and we had no home sales.

Home sales continue to struggle with the larger homes in our Great Hills neighborhood with: lower prices/sf for both homes for sale and pending sales; days on market remained high (except for our 1 pending); our Activity ratio dropped even lower to only 175; and we had no sales for the month.

Would you like to know your home’s approximate value, recent sales in your neighborhood, and your estimated net equity…both today and on a regular basis in the future? With ePropertyWatchTM, that information (and much more) comes directly to you. This program is from CoreLogic who provides property AVMs (Automated Valuation Model) for 90% of the home mortgage lenders in the United States…they are the trusted source for accurate home valuations. ePropertyWatchTM has information on over 100 million homes in the United States and each subscriber can have up to 3 properties on their report list. So, whether you own a home in the Austin metro area, or anywhere in the U.S. you can use this service to keep tabs on your property value and net equity.

Best of all, it is a FREE service for you to use! Click here to learn more about this program and to sign up for your free report: ePropertyWatch, or, click here to go directly to the sign-up page: ePropertyWatch-sign up formFeel free to forward this link to any friends, family, or coworkers you knowremember, any homeowner in the U.S. can utilize this service! You have my assurance that I will NOT use any email address to send someone spam email!

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Home of 2-3,000 sf have done better than larger homes in our Great Hills neighborhood, but not a lot better:  We have too many homes for sale; only 1 pending sale (less than a third of our YTD avg); our Activity Ratio plunged to only 17%; and we only sold 2 homes.  On the plus side, our 2 home sellers got a whopping 19.2% more/sf than 2016 sellers received.

Home sales for larger properties in our Great Hills neighborhood have really fallen off the past 3 months…we’ve only sold 1 home out of 768 homes of that size in our community.  We are selling at a 1.33 homes/mo average this year after 2.00 in 2016.   And, we only had 2 pending sales that took 229 days to get offers.  If you have a larger home make sure it is in great shape, staged well, good curb appeal and priced below market to have your best chance of selling it this year. 

Did you know that 42% of homes sold in the Austin metro area sell during the 50% of the year from October to March?  A common myth is that you should sell your home during the spring/summer months, but the above statistic proves that wrong.  Homes that are in great condition, staged properly and priced right sell year-long in our area.  Call/text me at 512-853-0110 or email me at robert@AustinTxHomeSales.com to get your free, no-obligation market analysis (CMA) to see how much you can net from your home sale.  

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Just like our larger homes, the 2-3k square foot homes in our Great Hills neighborhood had a poor month with all yellows and no green categories.  It is taking many more days to sell homes; our inventory jumped to 3.0 months (still a seller’s market, but moving upward); and we only had 1 home sell at 93% of their asking price.

Summer has not been good for larger homes in our Great Hills neighborhood.  August presented all yellow categories and no green ones as you can see above.  We still have too many homes for sale; our inventory jumped to 9.0 months (our highest this year and reflects a buyer’s market since it is over 6.0 months); our days on market is extremely high; we had no pending sales (for 2 of the last 3 months); and only had 1 home sell.  If you need to sell this year, price your home below the average selling price of the comparable homes to yours to give it the best chance of selling.

Are you considering selling your home next year? I recommend starting your research now into what is needed to get your home ready for the market next spring (when our market activity increases and continues through the summer).  Getting your home in tip-top shape will be especially important if the shift from a seller’s market to a buyer’s market continues next year.  Here is a good website that has a broad range of information for home sellers you might find useful: Tips on Selling Your Home. And, here are links to vendor websites to find contractors:  Angie’s List    Pro Referral   Home Advisor

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Home sales for our 2-3,000 sf homes in Great Hill were a mixed bag in July: we have too many homes for sale; our days on market for all 3 categories is trending up; we only had 2 pending sales (vs. our 3.4/mo YTD avg); and our Activity Ratio dropped to the 2nd lowest of the year. On a positive note: Our inventory (the number of months it would take to sell all homes currently on the market at the current sales rate) has remained low the past 3 months and we sold 4 homes (47% over our YTD avg) who got an average of $220.86/sf or 6.7% over last year’s sellers.


Another bad month for home sellers in our Great Hills neighborhood for homes over 3,000sf: We have to many homes for sale (50% over our YTD monthly average) and they have been on the market for 90 days; we only; had 1 Pending sale (vs. our 3.0 YTD avg) which was on the market for 116 days; and we had no sales for the 3rd month this year.

For those home sellers who aren’t sure about selling this year, or just want a general idea of their home’s value, I recommend the “ Market Snapshot” program. This free service pulls data from our MLS (Multiple Listing Service) for similar homes in your neighborhood on a regular basis (every 2, 4, 6, 8, or 12 weeks) and emails it to the homeowner. Create one yourself for your home here: Market Snapshot. It takes about 30 minutes to receive your report. Or, let me know if you–or someone you know–wants me to create a Market Snapshot for their home.
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Smaller homes in our Great Hills neighborhood fared better in June than the larger homes: We had 5 Pending sales (ie-have contract but not closed); .50 months of inventory (only 19% of our YTD avg); an Activity Ratio of 63% (over our YTD avg); and we got 6 home sales (240% of our YTD avg) who got 100% of their asking price. Our only real negatives were the days on market for homes for sale and Pending sales.


Another mediocre month for home sales in our Great Hills neighborhood (3-4,000 sq ft sized homes): We have too many homes for sale (8 vs. our 6.2 YTD avg); we have NO Pending home sales therefore our Activity Ratio is 0% (a future indicator of our market); and our 4 home sellers got less/sq ft for their homes than sellers got in 2016. Our bright spots are our inventory of only 2.0 months (vs. our 3.6 YTD avg); our 4 home sales (over double our 1.83 YTD avg) and they sold in only 20 days (nearly 1/3 our YTD avg).

You will notice that I’ve added a new category to replace the “Hotness Ratio”….the “Activity Ratio”. The AR is similar to the HR in that it is a future indicator of the direction our market is heading by comparing how many homes went under contract (ie-Pending) compared to the number of homes for sale. The HR compared Pendings to For Sale, while the ARA compares Pendings to (For Sale + Pendings). A slight difference, but the AR has a maximum cap of 100% while the HR had a max cap of 1,000%. I feel that most people understand the 0 -100 range better since more metrics we see frequently (like grades in school, etc) are based on the 0-100 range. There is no hard and fast rule about what makes a good AR number, but, generally, 25%+ represents a strong market. For instance, if 2 homes are Pending and there are 6 homes for sale, the AR is 25% [2 / (6+2) = 25%]. An AR of 50% would represent a very hot market since the For Sale and Pendings would be the same [ie-6 / (6+6) = 50%].
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May was the best month this year for home sales in Great Hills between 2-3,000sf…we only had 1 yellow category! Our 1.3 months of inventory was our 2nd lowest this year (& less than half our YTD avg); our Hotness ratio shot up to 150% (our best this year and double our 2016 avg); days on market went down for 2 of our 3 categories; we had 6 Pending sales (nearly double our YTD avg); and our 3 home sellers got 1.3% OVER their asking price and 8.4% more/sf than last year’s sellers got!


Overall, not a great month for larger Great Hills homes with our inventory jumping back up to 5.0 months (vs. 4.1 YTD avg and 2.9 in 2016); we only had 1 home sale (half our 2016 avg) and, while the home seller got 1.5% over their asking price, the price/sf was 4.1% lower than our 2016 home sellers got.
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Homes in our Great Hills neighborhood sized 2-3k square feet didn’t fare quite as well as the larger homes: We had 5 pending sales (ie-have contract but not closed) which is nearly double our YTD avg; our Hotness ratio jumped to 100% (vs. our 85% YTD avg); and our home seller got 10.8% more/sf than 2016 sellers got. Our negatives were too many homes for sale; higher inventory; and only 1 home sale which got 96.2% of their asking price.


April was our best month of the year for larger homes in our Great Hills neighborhood with 6 green categories: only 1.4 months of inventory (less than half our 3.7 YTD avg); our days on market fell for 2 categories; we sold 5 homes (vs. only 1.5/mo YTD avg) and our 5 home sellers got 99% of their asking price at 8.7% higher pricing/sf than home sellers got in 2016.
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Like our larger homes, home sale activity in our Great Hills neighborhood for those of the 2-3k sf size are struggling, too: we have too many homes for sale; our inventory rose to 6.0 months; our Hotness ratio plunged to 17%; and we only had 1 home sale last month for only 1% higher/sf than those sellers in 2016.


2017 has started off in our Great Hills neighborhood (3-4k sf homes) rather slow with only 1 home sale (our 1st this year) and our inventory of homes for sale shot up to 6.0 months (less than 6 is a Seller’s Market). However, we did have 5 Pending home sales (have contract but not closed) which raised our Hotness Ratio to 83% (higher than our avg this year or in 2016), so hopefully things will continue to improve in 2017.

For those home sellers who aren’t sure about selling this year, or just want a general idea of their home’s value, I recommend the “ Market Snapshot” program. This free service pulls data from our MLS (Multiple Listing Service) for similar homes in your neighborhood on a regular basis (every 2, 4, 6, 8, or 12 weeks) and emails it to the homeowner. Create one yourself for your home here: Market Snapshot. It takes about 30 minutes to receive your report. Or, let me know if you–or someone you know–wants me to create a Market Snapshot for their home.
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February home sales for our 2-3k sq. ft. homes was much improved over January with: Only 2 homes for sale (out of 1,168); our inventory was only .70 months (less than half of 2016); and we sold 3 homes (more than 2016 avg) that got offers in only 1 day at $213.14/sf (3% higher than 2016).


February home sales in our Great Hills neighborhood for 3-4k sq. ft. homes was marginally better than January: The number of homes for sale was good; we had 3 Pending sales (avg with last yr); and our Hotness jumped up from January to equal what we did in 2016. Unfortunately, we had no home sales for the 2nd month in a row and our days on market remain high.

If you are considering selling this year, contact me to receive a free, no-obligation market analysis (CMA) of your home. April, May and June are the 3 best months of each year to put a home on the market to sell.
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Homes between 2-3,000sf fared better than larger homes in our neighborhood with: NO homes for sale and our 3 Pending sales’ prices are 23% above last year’s! We only had 1 home sale, however, but this isn’t unusual since Nov-Feb are Austin’s slowest months each year.


January sale stats for larger homes in our Great Hills neighborhood didn’t fare as well as December with slower numbers in most categories: Too many homes for sale; no homes sold; Hotness ratio of only 33%; and our 6 home sellers listings have been on the market for 96 days. Our bright spot is our 2 Pending sales’ prices are 9% over last year’s numbers. Let’s see if our sales activity picks up this spring and returns to the levels we saw before the slowdown at the end of last year (which most of Austin saw).

Contact me today to set up your free, no-obligation Market Snapshot. This will provide you with timely reports about home sales activity in your neighborhood…with data straight from our Austin MLS.
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Smaller homes in our Great Hills neighborhood ended with some positives like: only .40 months of inventory (our 2nd lowest last year and about 25% of our YTD avg); we only had 2 homes for sale going into the slower winter months; our Hotness ratio jumped to 100%…our first triple-digit month since July); and, we sold 5 homes (nearly double our YTD avg).

So, how did our numbers look for all of 2016?

Smaller homes in our Great Hills neighborhood fared slightly better last year than our larger ones with higher prices (+4.1% over 2015) and fewer days on the market. However, our Hotness ratio was down 36%; ADOM for active listings went up 59%; and our monthly average of homes for sale was up 59%.


With the exception of sales price, Great Hill’s larger homes ended 2016 about the way we started with several yellow categories: Inventory doubled to 6 months (which is the break point to determine a seller’s or buyer’s market); our 6 home sellers have been on the market an average of 84 days; and we only sold 1 home.

Here is how larger homes fared in Great Hills last year:

With the exception of our average sold price which was up 6.4% over 2015′s prices, we had a significant slowdown with larger homes in our Great Hills neighborhood: Inventory more than doubled; Hotness ratio dropped in half; days on market were up significantly; and we sold 35% fewer homes than in 2015.
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Just like our the larger homes in our Great Hills neighborhood, those 2,000 to 3,000sf have also slowed down the last half of this year: With the exception of our Solds, the days on market number remains high; our inventory moved to our 2nd highest number this year; our Hotness ratio was below our YTD average; and our 2 home sellers got $202.19/sf which is only 1.7% over 2015 home sellers.


The larger homes in our Great Hills neighborhood continued their slowdown in November with only 1 green category: the average sales price/sf of $210.85 which was a whopping 10.2% over the average our 2015 sellers received. On the downside: we have too many homes for sale; not enough Pending sales and Sold homes; our inventory shot up to 6.0 months (less than 6 is a seller’s market so we are near equilibrium between a seller’s & buyer’s market); and our Hotness ratio plunged to only 17%.

Did you know that–according to the National Association of Realtors–92% of home buyers start their search online; 76% drove by the home to look at it; and 44% bought the home they found? Obviously, having your home well represented requires not only having it in the Austin MLS, but also in the hundreds of home websites that are available to home buyers. Keller Williams has a proprietary listing system the sends our client’s homes to over 900 of the most popular websites to give the home the best chance of getting an offer quickly. Here is a link to my home marketing plan so you can see just what I will do to get it sold if you hire me: Marketing Plan to Sell Your Home. This is a good time of year to make decisions if you are thinking of selling next spring when our market begins to heat up each year.
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Smaller homes in our Great Hills neighborhood are faring somewhat better than the larger ones, but not by much: Too many homes for sale with 8 going into the slower fall/winter selling season; inventory up to our 2nd highest month this year; Hotness ratio below our YTD average of 81%; days on market are higher; and our 2 home sellers got 3.2% more than 2015 sellers (vs. our 6.2% YTD avg). The bright spot was our 5 pending sales which is over the average for this and last year.


Home sales activity for the larger homes in our Great Hills neighborhood continue to struggle this year with no green categories in October. Our downward trending categories (when compared to the rest of this year and 2015) include: 7 homes for sale which is over double last years 3.2/mo average; inventory up to 3.5 months (our highest of this year); our Hotness ratio dropped to only 14% (vs. 66% avg this year and 118% in 2015); our days on market (ADOM) continue to be high; and our 2 home sellers got 15.2% LESS/sf than sellers this year or in 2015. If you need to sell this year, make sure your home is in great condition and priced below the average of your competing homes.

For those home sellers who aren’t sure about selling this year, or just want a general idea of their home’s value, I recommend my Market Snapshot program. This FREE service pulls data from our MLS (Multiple Listing Service) on a regular basis (every 2, 4, 6, 8, or 12 weeks) and emails it to the homeowner. Here is a link to a sample report so you can see what information is provided: Market Snapshot – Sample report. Let me know if you–or someone you know–wants me to create a Market Snapshot for their home. I frequently hear that home sellers and buyers simply utilize a feature on the Zillow website called a Zestimate to determine a home’s value. This is not recommended in Texas because Texas is one of the few “non-disclosure” states, meaning that home sales are not reported to the local appraisal district like they are in other states. While other states get fresh data to feed their county appraisals, in Texas, Zillow is relegated to using mathematical algorithms to “guesstimate” a home’s value which is why they are seldom accurate, either. So, in other states, Zestimates are much more accurate than here in Texas. The CMA program I use has a page included which pulls in Zestimates for the property and it is not unusual to see Zestimate values off by 10-15%…worthless to use for any serious market valuation.
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Smaller homes in our Great Hills neighborhood fared better than the larger ones, but not by much: they, too, had lots of yellow categories, but were green in these areas: sellers got more than their asking price; the average price/sf was an astounding 15.2% more than last year’s sellers; and it only took 8 days for them to get offers.


The slowdown in home sales for our larger Great Hills homes continued in September with only yellow categories (ie-negative trend). The number of homes for sale dropped from the 8 we had in August but is still over our YTD avg; they have been on the market for 72 days; our Hotness ratio dropped to 50% (2/3 our YTD avg); our 3 pending sales were on the market longer than average; and, we had no sales for the 2nd time in the past 3 months. If you need to sell this year, make sure your home is in great shape and priced below the average of other homes you are competing with to have the best chance of selling.

Did you know that 42% of homes sold in the Austin metro area sell during the 50% of the year from October to March? A common myth is that you have to sell your home during the spring/summer months, but the above statistic proves that wrong. Homes that are in great condition, staged properly, and priced right sell year-long in our area. Call/text me at 512-853-0110 or email me at robert@AustinTxHomeSales.com to get your free, no-obligation market analysis (CMA) to see how much you can net from your home sale.
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With the exception of 7 home sales in our Great Hills neighborhood, we had another slow month in August with: 9 homes for sale (nearly double our YTD avg); they have been on the market for 65 days; we only had 1 Pending sale (less than 25% of our YTD avg); our Hotness ratio plunge to only 11% (our lowest of the year & nearly 9 times lower than our YTD avg of 90%); our 7 sellers got only 1.6% more than last year’ sellers which took nearly double the time to get an offer with 29 days.


Unfortunately, August continued the weak streak in our Great Hills neighborhood with: 8 homes for sale (vs. 4.8/mo YTD); 2.7 months of inventory (up 42%); zero Pending sales (the future indicator of the market); and our 3 home sellers took 93 days to get offers that were 6.3% below their asking prices. If you want to sell this year, you should have your home in great condition, staged well, and priced below the average of similar homes.

Have you decided not to sell this year, but you might want to next year? I recommend starting your research into what is needed to get your home ready for the market next spring (when our market activity increases and continues through the summer). Here is a good website that has a broad range of information for home sellers you might find useful: Selling Your Home.

Also, future home sellers will want to see what homes are selling for in both their neighborhood and any neighborhoods where they might purchase their replacement home. For home sales statistics (straight from the source of all data…the Austin MLS), I recommend Market Snapshot, a free, no-obligation service I offer. Here is a more information: Market Snapshot. To find information about homes for sale anywhere in the Austin metro area, I recommend downloading this Keller Williams application to your cell phone which allows you to find home listing details while driving around, or by doing a manual map search: KW Home Search App. This, too, is a free application. Call or text me at 512-853-0110 or by email robert@AustinTxHomeSales.com to receive either or both of these great applications.
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July was mostly a slow month for us in our Great Hills neighborhood. For the 2nd month in a row, we have too many homes for sale (9 which is double our YTD avg); they have been staying on the market longer (47 days); & our inventory jumped to 4.5 months (our highest since last Sep). The 2 home sellers did get 1.4% over their asking price in only 5 days for an average of $213.44/sf (7.4% over 2015 pricing), so there were some bright spots.


July was probably our worst year so far in our Great Hills neighborhood: 5 homes for sale (vs. our 4.3/mo YTD avg); Hotness ratio of 60% (vs. our 89% YTD avg & last years 118%); our 3 Pending sales took 93 days to get an offer (vs. our 28 YTD avg); and we sold no homes which we hadn’t done since Feb/2015. If you list your home for sale make sure it is in top notch condition and priced aggressively if you want to sell right now.

It is NOT too late to sell your home this year! In spite of our traditional strong spring/summer selling season, we still typically sell over 50% of our homes during the last 6 months of the year. I can provide you with a CMA (comparative market analysis) to show you how much your home is worth…just call/text me at 512-853-0110, or email me at robert@AustinTxHomeSales.com. If needed, I can also help you get your home ready for the market, including staging your home.