Analysis Travis Heights: Cool is as cool does

February 16, 2008 at 7:10 pm Leave a comment

 
Originally uploaded by thenelsonproject

The Travis Heights real estate market has cooled. It’s kind of like not drinking caffeine for a few days and the subsequent headache; it’s an intense headache but you know it will only last a short amount of time or you can get back into coffee mode and everything will settle down. Or perhaps a better dietary analogy has to do with the sugar high Travis Heights real estate has been on for years. But so far this year (2/16 post), pretty much nothing has sold in Travis Heights. Some data to consider:

Travis Heights Sold Data
Year Qty Sold   $/sqft     Avg Sold $   Avg Days on Market Change
2005 77  $     255  $        345,789 49
2006 83  $     249  $        451,684 63 131%
2007 69  $     278  $        422,186 51 93%
2008* 2  $     300  $        650,000 76 154%
*<2/16
Travis Heights Quarter Analysis
Year Qty Sold   $/sqft     Avg Sold $   Avg Days on Market Change
Q107 16  $     253  $        409,254 75
Q207 31  $     280  $        439,880 37 107%
Q307 15  $     303  $        389,143 54 88%
Q407 7  $     276  $        444,193 44 114%
YTD-08* as of 2/16, zero sold … 4 pending
Travis Heights Current Active
  Qty   $/sqft     Avg Price   Avg Days on Market
22  $     324  $        628,801 100

I have a few theories on this. First, the price range of Travis Heights. Basically the $400k – $700k market stalled throughout Austin beginning last August and we are just now seeing it snap back into its happy place. Another perspective is that Travis Heights experienced some of the highest appreciation around town over the past 5-8 years and as the market shifted into a zone of uncertainty last fall, buyers got uber-cautious with neighborhoods that had perception or risk factor of being over-valued. I do not think that Travis Heights is over-valued; I do believe, however, that that perception played into buyers willingness to spend or, more so, willingness to simply observe.

It is picking up as we are seeing offers come in throughout town for homes that have been sitting for months. (See post “Analysis: 78704” for additional commentary on the topic.)

If you pass through, make sure to save time for coffee at Jo’s, a walk through Stacy Park or a stroll sown South Congress. Cool is as cool does.

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© Julie Nelson and The Nelson Project at Keller Williams Reatly, 2008-2010. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.

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Entry filed under: Austin, Data Central, Neighborhood Navigation, Smart Real Estate. Tags: , , , , , .

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© Julie Nelson and The Nelson Project at Keller Williams Reatly, 2016-2020. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.

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