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Mueller Austin Market Update

Homes for sale in Mueller remained popular in 2010. There were three new housing types offered last year, and all have sold remarkably well.

  • The market rate Garden Homes are being sold as fast as they can start them (builder David Weekley has a goal of starting three new homes a week at present). There are still affordable Garden Home opportunities from $160k-$179k, and there is one market rate Kerbey floorplan available right now on a corner lot for around $315k.
  • The Greenway Loft condos have sold all but 7 of their units. The remaining condos range from $170k – $290k
  • The market rate Mueller House condos that have been released (four buildings) have all sold in less than two months. There are still affordable Mueller House condos available from $157k -$162k.

The resale market has fared well too. There were 24 listings in 2010 (one home was listed twice and failed to sell, and one home was listed twice and is currently under contract). So in essence, there were

  • 22 different homes listed, of which 19 sold
  • 2 homes remain on the market, 1 is under contract
  • 3 listings were withdrawn – one has remained off the market, the others have been relisted
  • The median list price was $357,450 with the median list price to sales price ratio of 97.3%. This is pretty good and shows sellers are being somewhat realistic in their list prices
  • Median time on market for resale homes sold on the MLS was 62 days
  • Two homes in the affordable program have sold and remained in the affordable program (not through the MLS)

The other resale indicator I look at is median sales price to original list price – this was 96.7% which shows that some sellers made a minor price adjustment during the course of their listing. The average was 94.4% which was skewed by a highly overpriced foreclosed home which had a price adjustment from $346k to $300k.

Overall, the signs are that Mueller remains a popular destination for people relocating to Austin and looking for a new or nearly new green home, and the market under $400k is strong. One question I’ll be answering shortly is how do the new homes affect resale prices at Mueller?

Garreth Wilcock has called Mueller Austin home for almost 3 years and is a Realtor with Sherlock Homes Austin.

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