Plum Creek Market Update July 2017 Edition
Hello Plum Creek Neighbors!
So often local real estate professionals update their clients/customers about the real estate market with broad strokes using data that encompasses the entire Austin Metro area, Hays County, or the City of Kyle.
I plan to create a new Market Update each month for our neighborhood so if you are interested in receiving this monthly you can sign up at the very bottom of this page.
Plum Creek Neighborhood Market Update Brochure
In the first half of 2017, single-family home sales in the Plum Creek neighborhood decreased 17.1 percent compared to the first six months of 2016 to 68 home sales. During the same time frame, the median price increased 12.6 percent to $230,000.
Single-Family Home Sales
Plum Creek single-family home sales decreased 14 percent year-over-year to 18 home sales in June 2017. The median price for single-family homes in Plum Creek grew 3.4 percent year-over-year to $215,500 in June 2017.
Months of Inventory
Plum Creek has experienced a strong decline in listings activity in the first half of 2017. Plum Creek’s monthly housing inventory has also continued to decline despite that inventory figures across the 5 county MSA have all increased. Hays County has one of the highest inventory figures across the five county MSA at 3.4 months of inventory while housing inventory in Plum Creek decreased 0.4 months from June 2016 to 1.8 months of inventory. Comparatively the City of Kyle overall has a housing inventory of 2.3 months.
In June 2017, single-family homes that sold in Plum Creek spent an average of 24 days on the market, five days less than June 2016 or 3 days less than the City of Kyle’s average. While during the same time frame, the number of active listings plummeted 29 percent to 32 listings, and new listings also fell 17% percent to 23 new listings.