Search for Village at Western Oaks homes for sale

Market Snapshot

(January to June 2010 compared to January to June 2009)

Village at Western Oaks:

• 37% increase in the number of single family homes sold
• 4% increase in median single family sold price per square foot
• 8% increase in median sold price (total dollars)
• 35% decrease in the time it is taking to sell a home
• 0% change in withdrawals
• 13% increase in supply.

Sold: As of 6/14/2010 there were 63 homes sold in Village at Western Oaks during January to June 2010 compared to 46 during the same time period in 2009 (37% increase). Home prices (per square foot)  have increased 4% during January to June 2010 compared January to June 2009 with a median sold price of $118.59 per square foot ($250,000) during January to June 2010 compared to $113.97 per square foot ($231,250) during the same time period last year. During January to June 2010 these sold home have averaged 40 days on market compared to 62 days on market during January to June 2009, which shows there was a 35% decrease in the time it is taking to sell a home this January to June 2010 compared to last January to June 2009.

Active: There are 28 single family homes actively for sale in the Village at Western Oaks as of 6/14/2010. These homes average 62 days on market with a median list price $112.10 per square foot ($285,950).

Pending Sale: There are 18 homes pending sale in the Village at Western Oaks as of 6/14/2010. These 18 homes average 36 days on market with a median price of $122.66 per square foot ($258,500), which is a list price 3.4% more than the median sold price per square foot in Villages at Western Oaks during January to June 2010.

Withdrawn: There were 12 single family homes withdrawn from the Village at Western Oaks real estate market during January to June 2010 compared to 12 homes during the same period of time during January to June 2009. Homes withdrawn during January to June 2010 averaged 66 days on market and were listed for sale with a median price of $120.73 per square foot ($273,950). This compares to an average of 60 days on the market with a median price of $114.68 per square foot ($244,950) for homes withdrawn from the market during  January to June 2009.

Inventory: Clarus MarketMetrics shows that there is a 3.2 month supply of inventory for single family homes in the Village at Western Oaks during May 2010 compared to 2.8 during May 2009, which is a 13% increase in supply.

Village at Western Oaks Leases: As of 6/14/10 there are 5 homes (all types) for lease within the Village at Western Oaks subdivision with a median lease price of $.79 per square foot per month($1,695 per month) and averaging 14 days on the market. During January to June 2010 there were 18 homes (all types) leased in the Village at Western Oaks compared to 29 during January to June 2009, which is a 38% decrease in the number of homes leased. During January to June 2010 the median lease price per square foot was $.76 per square foot per month($1,673/mo) and averaging 34 days on market compared to $ .74 per square foot per month ($1,600/mo) and averaging 40 days on market during January to June 2009, which is an 3% increase in lease price per square foot and  15% decrease in days on the market.

Search for Village at Western Oaks homes for sale

Market Snapshot

(January to May 2010 compared to January to May 2009)

Village at Western Oaks:

• 33% increase in the number of single family homes sold
• 9% increase in median single family sold price per square foot
• 7% increase in median sold price (total dollars)
• 41% decrease in the time it is taking to sell a home
• 33% decrease in withdrawals
• 50% decrease in supply.

Sold: As of 5/10/2010 there were 44 homes sold in Village at Western Oaks during January to May 2010 compared to 33 during the same time period in 2009 (33% increase). Home prices (per square foot)  have increased 9% during January to May 2010 compared January to May 2009 with a median sold price of $118.92 per square foot ($250,000) during January to May 2010 compared to $109.18 per square foot ($234,000) during the same time period last year. During January to May 2010 these sold home have averaged 38 days on market compared to 65 days on market during January to May 2009, which shows there was a 41% decrease in the time it is taking to sell a home this January to May 2010 compared to last January to May 2009.

Active: There are 25 single family homes actively for sale in the Village at Western Oaks as of 5/10/2010. These homes average 71 days on market with a median list price $120.50 per square foot ($260,000).

Pending Sale: There are 22 homes pending sale in the Village at Western Oaks as of 5/10/2010. These 22 homes average 41 days on market with a median price of $116.46 per square foot ($261,000), which is a list price 2% less than the median sold price per square foot in Villages at Western Oaks during January to May 2010.

Withdrawn: There were 6 single family homes withdrawn from the Village at Western Oaks real estate market during January to May 2010 compared to 9 homes during the same period of time during January to May 2009, which is a 33% decrease in withdrawals. Homes withdrawn during January to May 2010 averaged 65 days on market and were listed for sale with a median price of $132.88 per square foot ($276,950). This compares to an average of 67 days on the market with a median price of $112.41 per square foot ($249,900) for homes withdrawn from the market during  January to May 2009.

Inventory: Clarus MarketMetrics shows that there is a 1.6 month supply of inventory for single family homes in the Village at Western Oaks during April 2010 compared to 3.1 during April 2009, which is a 50% decrease in supply.

Village at Western Oaks Leases: As of 5/10/10 there are 2 homes (all types) for lease within the Village at Western Oaks subdivision with a median lease price of $.71 per square foot per month($1,998 per month) and averaging 15 days on the market. During January to May 2010 there were 14 homes (all types) leased in the Village at Western Oaks compared to 23 during January to May 2009, which is a 39 % decrease in the number of homes leased. During January to May 2010 the median lease price per square foot was $.76  per square foot per month($1,673/mo) and averaging 39 days on market compared to $ .74 per square foot per month ($1,550/mo) and averaging 44 days on market during January to May 2009, which is an 3% increase in lease price per square foot and  11% decrease in days on the market.

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.