Did the strong upward Barton Creek real estate market of 2015 continue for Sellers in 2016?
Well, we have some good news for you!
Virtually the same number of home sold in 2015 and 2016.
72 homes sold in 2016 vs while 71 home sold in 2015.
We experienced a shorter selling cycle!
Average Days On Market (DOM): shortened to 98 days 2016 vs 123 days on market in 2015.
The Average Price Point was down in 2016.
In 2016, the Average Sales Price was $1.303MM, which was down from $1.491MM in 2015. Why is this? We had more outliers (higher priced homes sold) in 2015, which skewed the numbers.
Almost $94MM of real estate was sold in Barton Creek in 2016.
With the average price of homes being lower, the total volume of property sold was, understandably lower than the $105MM+ of property sales in 2015. However, home valuations trended 10%+ higher year over year! With double digit valuation growth your home equity may be up significantly.
The Not So Good News: Almost 2 listings expired per day.
It would appear that several home owners went to market with asking prices above market values and 136 home listings expired in Barton Creek.
Well, there are a number of reasons and we do a deep dive on the “why” in our video. With 96+% of Buyers beginning their home search online, there is nothing more important than working with professionals who are committed to the "3 P’s” and a strategic online campaign to get your home sold.