(Area defined by: South of 35th St., North of Lake Austin & West of MO-Pac)
- There are currently 61 luxury homes available in this area with 4 others currently under contract. Over the last 3 months 22 luxury homes have sold. At this rate of absorption there is 8.5 months worth of inventory. Things have been slow in Tarrytown. The 4 pending homes signify a continued rate of slower activity, and I anticipate activity to be down from last month.
- There are currently 61 luxury homes available in this area with 4 others currently under contract. Over the last 3 months 22 luxury homes have sold. At this rate of absorption there is 8.5 months worth of inventory. Things have been slow in Tarrytown. The 4 pending homes signify a continued rate of slower activity, and I anticipate activity to be down from last month.
(If you would like a copy of the graph email me and I'll forward it to you.)
The activity in the $500k to $999k range has been the most active. There are currently 42 homes available and the 4 pending homes are all in this price range. Over the last 3 months 15 homes have sold. With this rate of absorption there is 8.4 months of inventory, which is statistically almost a carbon copy of Tarrytown on the whole. This price band saw its’ most intense activity this summer, when many other areas in Austin were slow. 12 homes sold in May, 15 sold in June and 8 sold in July. The Days on market was trending downwards and was as low as 37 DOM for sold homes in July. But, as the summer wound to a close activity slowed too and DOM has risen to a current level of 101 days. Although traffic has slowed, prices are holding firm.
The activity in the ULTRA market, $999 and up, has been slow. There are currently 19 active homes available and no pending sales in this market. Over the last 3 months 7 ULTRA homes have sold, yielding an absorption rate of 2.3 homes a month. At this rate there is currently 44.3 months of inventory. Earlier in the summer 3.3 homes sold a month on average. The days on market during this time was lower as luxury homes were selling faster. However, as the summer progressed the days on market rose from 44.5 in May to 128 in July. The values in this segment are also holding firm. Sellers appear to be comfortable waiting for realistic offers, even though the market is not saturated with real buyers.
Final Thoughts: The activity below $1 million has been solid and accounts for the majority of the sales. The ULTRA market has been slower this summer and is overly saturated at this time. Both markets had busy summers and cooled as the summer season ended. Tarrytown is ever-popular and closer and closer to downtown every year, although the fall has been quiet, keep an eye on Tarrytown year next spring!
The activity in the $500k to $999k range has been the most active. There are currently 42 homes available and the 4 pending homes are all in this price range. Over the last 3 months 15 homes have sold. With this rate of absorption there is 8.4 months of inventory, which is statistically almost a carbon copy of Tarrytown on the whole. This price band saw its’ most intense activity this summer, when many other areas in Austin were slow. 12 homes sold in May, 15 sold in June and 8 sold in July. The Days on market was trending downwards and was as low as 37 DOM for sold homes in July. But, as the summer wound to a close activity slowed too and DOM has risen to a current level of 101 days. Although traffic has slowed, prices are holding firm.
The activity in the ULTRA market, $999 and up, has been slow. There are currently 19 active homes available and no pending sales in this market. Over the last 3 months 7 ULTRA homes have sold, yielding an absorption rate of 2.3 homes a month. At this rate there is currently 44.3 months of inventory. Earlier in the summer 3.3 homes sold a month on average. The days on market during this time was lower as luxury homes were selling faster. However, as the summer progressed the days on market rose from 44.5 in May to 128 in July. The values in this segment are also holding firm. Sellers appear to be comfortable waiting for realistic offers, even though the market is not saturated with real buyers.
Final Thoughts: The activity below $1 million has been solid and accounts for the majority of the sales. The ULTRA market has been slower this summer and is overly saturated at this time. Both markets had busy summers and cooled as the summer season ended. Tarrytown is ever-popular and closer and closer to downtown every year, although the fall has been quiet, keep an eye on Tarrytown year next spring!
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