Real Estate Update: Steiner Ranch, Westminster Glen, River Place, Glenlake

Mid year market update one area where I focus a lot of my time and energy: River North. This area includes Steiner Ranch, River Place, West Minster Glen, City Park Road communities and Glenlake.

Steiner Ranch:

• Homes for sale: 98
• Homes under contract: 61
• Homes closed YTD : 142
• YTD compared to 2011:  +7 SOLD YTD
• Median SOLD price: $387,200
• Most expensive home SOLD: $850,000
• Median Days on Market SOLD: 38
• Median ppsf is up a few dollars per square foot; strong pending sales count.

Westminster Glen:

• Homes for sale: 9
• Homes under contract: 2
• Homes closed YTD: 6
• YTD compared to 2011: -4 SOLD YTD
• Median SOLD price: $1M
• Most expensive home SOLD: $1.225M  (so far...)
• Median Days on Market SOLD: 37
• The homes that are selling are selling pretty quickly and showings are good now; I believe WMG is going to turn in a strong year again this year.

River Place:

• Homes for sale: 32
• Homes under contract: 17
• Homes closed YTD: 41
• YTD compared to 2011: -5 YTD
• Median SOLD price: $455,000
• Most expensive home SOLD: $1.45M
• Median Days on Market SOLD: 70
• With strong pending contracts, RP should turn in a strong year again this year as well

All of RN area including the communities above:

• Homes for sale: 235
• Homes under contract: 93
• Homes closed YTD: 232
• YTD compared to 2011: +4 SOLD YTD
• Median SOLD price: $425,750
• Most expensive home SOLD: $3M
• Median Days on Market SOLD: 39

AS you can tell, this is a robust market area in Austin's Real Estate portfolio. Beautiful luxury homes. Wide range of price points. Homes from twice the median home price to $MM homes, conveniently located on the north side of Lake Austin, south of 2222.

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