End of Q3 Update. There’s starting to be some movement, both positive and negative, in the SW Austin and Dripping Springs Markets. Watch my update below to find out where the trends are heading.
Sept 2018 Market Analysis for Dripping Springs and Driftwood
78619 & 78620
Months of inventory is up over 6 months due to a couple factors but the biggest is, fewer sales year over year (about 20%). If this persists, this is considered a balanced market and trending toward a buyers market. Listings are going to need to be priced within 5% of the median price of a neighborhood to sell fairly quickly. There are also fewer new listings when you compare 2017 to 2018 ytd. 70% of the market is between $350k & $700k with almost 50% between 350k & $ 550k. The highest DOM between $400k & $600k (builder inventory.) Average DOM is around 80 days (again, skewed by builder inventory.) Most homes being sold are the ones in neighborhoods closer in proximity to Austin and Bee Cave.
Sept 2018 Market Analysis for SW Austin out to Belterra area 78736 & 78737
Months of inventory is between 3 & 4 There are also more new listings when you compare 2017 to 2018 ytd. 79% of the market is between $350k & $700k with almost 52% between 350k & $ 500k. The highest DOM is over $550k (Are higher price points moving west? Maybe. More sales and lower DOM over $600k in 78619 & 78620.) Most homes being sold are in 2 areas. Near the Y at Oak Hill and near the new schools and shopping in Belterra, Highpointe and Ledgestone