By LYNETTE HAALAND
Four Points News

Home sales in Four Points decreased slightly last year from 435 in 2015 to 426 in 2016 but the median sale price was up from $490,000 to $495,000, respectively.

Multiple Listing Service data compiled from the Four Points communities of Grandview Hills/Parke, River Place, Steiner Ranch, Westminster Glen and the Comanche Trail area  shows that the median days on market was down from 36 to 29 last year, and the sold price per square foot was up from $156 to $159 last year, as compared to 2015.

“Our area has experienced another strong year,” said Tom Radack, owner Bartlett Real Estate, Keller Williams Realty.

Compared to Travis County, year-end 2016 home sales in Four Points were down 2 percent versus Travis County, which was up 3.3 percent. Median price increased to $495,000 locally and to $335,000 in Travis County.

“Four Points is experiencing a significant shortage of mid to lower priced homes. New construction is priced at or significantly above the median priced homes in the area, and re-sales below the median are few,” Radack said.

Of the current 56 listings as of Jan. 21, 12 are less than $495,000 and three below $400,000.

“As a result of the shortage, many buyers are looking for lower priced homes in the outlying areas on Central Texas,” Radack said.

Central Texas

For Central Texas home sales, 2016 was another record-breaking year but the greater area is showing signs that the housing market could begin to normalize in 2017, according to the Austin Board of Realtors.

“The Central Texas housing market is slowly beginning to align with long-term historical trends. Homes are spending more time on the market and the pace of both home sales and price growth is slowing,” said Brandy Guthrie, 2017 president of the ABOR. “This normalization does not necessarily mean a weakening housing market, but a return to less aggressive market conditions.”

Looking ahead in Four Points

“Area homes are in high demand, but prices and the lack of inventory will limit the unit sales increase. Home prices will be greatly influenced by the features and the location of the home, as well as its price point,” Radack said.

“Rising interest rates and the expected increases will spur demand, but could also put a check on price increases as borrowing power is reduced,” he added.

All indications, as stated by the ABOR report, are that Central Texas could be returning to less aggressive marketing conditions.

“The Four Points area is, however, quite unique and our property values should continue on an upward path,” Radack said.

Austin-Round Rock Metropolitan Statistical Area

More than 29,560 single-family homes were sold in the five-county Metropolitan Statistical Area in 2016, a 3.9 percent increase from 2015 and an all-time high for annual home sales volume, ABOR reports.

Median price for single-family homes rose 7.2 percent from 2015 to $284,000, while home sales dollar volume jumped 9.1 percent from 2015 to $10,456,084,996.

Homes spent an average of 50 days on the market in 2016, an increase of two days from 2015.

Housing inventory levels remained unchanged from year-end 2015 to year-end 2016, ending December 2016 at 2.0 months of inventory.

In December 2016, single-family home sales rose 1.9 percent year-over-year to 2,373 home sales, while median price rose 6.9 percent to $290,000.

“While the region’s job growth have slowed over the last few years, overall the Central Texas economy and housing market continue to be strong,” said Mark Sprague, state director of information capital for Independence Title. “The 2017 housing market will likely outpace last year’s levels, but at a less robust margin. Recent increases in mortgage rates could continue the current pace of home sales growth into the first part of the year.”

For additional housing market statistics and infographics for the Austin-Round Rock MSA; Central Texas; Hays, Travis and Williamson counties; and the city of Austin, please visit  www.ABoR.com/StatsDec16.