According to January 2014 data from the Austin Board of Realtors, we have TWO months of inventory when it comes to single-family homes in the Austin area. What does this mean to the average buyer or seller in Austin? It means that we are very much still in a seller’s market.
As we creep into the Spring months (with this weather it can be hard to tell if we are getting closer to Spring or not!), more inventory will start to become available as sellers capitalize on the busier months of real estate. Simultaneously more buyers will be buying, and will probably keep that inventory level down.
One particular neighborhood where we can see low inventory, with solid numbers of homes that are under contract or that have recently sold is Scofield Farms (also known as just Scofield) in North Austin. Currently, there is ONE house of more than 2000 sqft on the market. There are nine homes under contract. And, nine homes have sold in the last 90 days. (Based on data from the Austin MLS.)
Why is Scofield Farms so hot right now? Here are the top three reasons why:
1) Location, location, location!
Scofield Farms is located right off the MoPac, and if you are traveling north on the MoPac, it is the last exit before tolls kick in. Therefore, people love the easy access to this neighborhood. It is also located nearby the Domain, hospitals and major employers. Residents have shopping, dining, and work nearby and this is a huge perk.
2) Wide-range of homes at a good price.
In Scofield you can find smaller homes priced in the high $100’s and larger homes in the $300’s, but for the most part you have a great selection (when inventory isn’t scarce!) of median-sized homes in that median-price range in the $200’s.
3) Buyers love the “feel” of Austin neighborhoods like Scofield Farms.
Homes range in age from the 1980’s to the 2000’s in Scofield Farms, thus making it primarily an “established” neighborhood. Many of the homes have mature trees and lots of them. There are neighborhood parks throughout the community. And, at any given time you can see families strolling down the streets, getting exercise or a fresh breath of air after work. All of these elements add up to a feel that Austinites really appreciate in a neighborhood.
It’s obvious that if you are a seller in Scofield Farms, you are in a good position due to the low inventory. But, did you also know that it is a great time to buy in Scofield Farms? The reason: you can get into a great, established community, at a good price range that aligns well with the median sales price in Austin and in a convenient location.
Whether you are looking to buy or sell in Scofield Farms, give me a call today to arrange an appointment!