Village Central

Village Central


April 18, 2017


How's The Market? Neutral
First Quarter Sales
 River Place Sales Q1 2017
11 Sales Beds Baths Sqft List Price LP/SqFt Sold Price SP/SqFt Acres Days
Min 3 2 2,306 $499,000 $151.36 $488,500 $149.29 0.15 2
Max 5 4 5,121 $965,000 $246.75 $970,000 $248.92 0.58 153
Avg 4 3 3,384 $630,936 $188.21 $624,909 $186.32 0.31 40
Median 4 4 3,429 $565,000 $188.44 $552,500 $186.55 0.29 14


In the past 90 days there were 11 sales.  The current inventory is 11 (excludes 3 luxury properties over 1M).  I call this a neutral market.  When the homes that are pending close as sold we will revisit the price per square foot.  

Market Performance = Neutral  

Active Listings = 11 @ $187 per sqft  - 3 Luxury $1M+ @  $221/sqft

Pending Listings = 9 @ $193 per sqft

First Quarter Sales = 11 @ $186/sqft ; days on market 40


Contact me to determine the value of your home in today's market!


Here are a few stats you might like to look at...



(Chart one in red) -Compares last year Jan 2016 to present Feb 2017

# of New Listings

(Single Family homes)

The number of new listings in River Place fell by 57% (3 vs 7) as reported by Austin MLS on 2/14/17.


Price Per Square Foot

River Place Price per square foot has increased by 6.5% from $184 to $196 comparing Jan 2016 to Jan 2017.  

(Chart two in Blue)

google map

Price per square foot is often dictated by the size of the home. 

Two story homes generally have a lower price per square foot as compared to one story homes, but factors such as the price point, size of the home, year built, location, construction style interior finish out, and view will also deliver different values in the market place.   It is also smart to consider the number of homes on the market in different price bands at the time of sale. This can influence pricing more than any other factor including market conditions.

A favorable interest rate environment for at least 2 years or more will influence the availability of funds a buyer can obtain and can affect housing activity but I think we can all agree the housing market and Austin has a strong migration and recently has been named as seen last Tuesday 2/7/17 in Austin American Statesman quoting US News and World Report as the "Best Place to Live in America.

google map


Homes are staying on the market seasonally longer. Across the city there is a higher inventory of new homes and builders are becoming more aggressive with discounting prices.  This can be viewed as a signal of decline or as a response to supply/demand.  Housing prices will flatten as months of inventory increases (we have about a 4 month supply) in River Place.  It is still considered to be a seller's market (6 months or more will change the direction of prices).  Here is a list of the average sales prices comparing 2016 to 2017.

Average Sales Price

Jan 2016-Feb 14 2017

Jan $600,000 $558,333
Feb $625,000 $542,000
Mar $1,295,429  
Apr $498,125  
May $720,291  
Jun $642,765  
Jul $615,143  
Aug $697,738  
Sep $517,725  
Oct $939,600  
Nov $745,200  
Dec $1,553,133

The Average sales price has declined by about 7% in January in River Place comparing this year to last. Since we are about midway through the month we will revisit the average price again in approximately 30 days.

If you would like to know the value of your home visit or call me I am in the neighborhood!

Contact me today at 512-784-5111

Lisa Marie


*Compliments of The Austin American Statesman 2/7/17 by Roberto Villalpando.





Contact Information

Photo of Lisa Marie Contaldi Real Estate
Lisa Marie Contaldi
Intero Real Estate Services
1122 Colorado Street #320
Austin TX 78701
Fax: 512-852-4481

Consulting Buyers and Sellers over 26 years! Learn About What Your Home is worth today!!