Village at Western Oaks 2009 Market Update

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Out of the approximate 1630 homes in the Village at Western Oaks, there were 149 single-family homes sold in the neighborhood during 2009 compared to 153 during 2008 and 190 during 2007.  Homes sold for prices ranging from $75-$155 per square foot or $178,000-$375,000 during 2009 with a median sold price of $118.16 per square foot ($236,500) compared to $123.53 per square foot ($244,000) during 2008 and $121.71 per square foot ($254,992) during 2007.  This shows a 4.3% decrease in the sold price per square foot and a 3% decrease in the sold prices when comparing 2009 to 2008.  This shows a 2.9% decrease in the sold price per square foot and a 7.3% decrease in the sold prices when comparing 2009 to 2007.  While it is never good for home owners to see a decrease in prices, these price drops are actually minor compared to many other neighborhoods across Austin.  While the price per square foot has dropped a modest 3% since 2007 when prices were at a peak, the biggest drop was seen in the actual price that people paid for a home, which was 7.3% lower than in 2007.  This may indicate that buyers were purchasing less expensive homes but still paying similar prices per square foot for homes in the Village at Western Oaks neighborhood. 

Source: The raw data in this report was provided by the Austin Board of REALTORS® but interpreted by top Austin Realtor® Brian Talley of Regent Property Group.  The information contained herein is subject to errors, omissions and changes without notice.  Any information, statistics, analytics, recommendations or opinions provided in this report are subject to errors and/or omissions and are not in any way guaranteed as accurate or reliable by Brian Talley or by Regent Property Group LLC.  Statistics in this report may be updated as more information is added or changed from the source of this information.