Fairways of Blackhawk - Pflugerville, Texas - Market Analysis - 2nd Quarter 2008 (April - June)
Jason Crouch
As a six-year resident of the Blackhawk area and a 13-year resident of Pflugerville, I like to keep an eye on the market values here in the area. When the toll roads opened about a year and a half ago, the prices started trending upward and they certainly have continued to appreciate, even in a slower market. As a fellow homeowner, this stuff is important to me, too!
Currently, there are 17 resale homes available on the MLS in the Fairways, with an average asking price of $246,292. The average square footage for these homes is 2,638, for an average price per square foot of $94.25. The number of homes is quite a few more than normal right now - last quarter there were just 6 on the market when I ran these numbers.
Presently, there are 2 homes under contract in the subdivision, with an average listing price of $253,741, and an average square footage of 2,947, yielding an average price per square foot of $85.48.
Over the past quarter (April through June 2008), there were only 3 sales closed within the Fairways of Blackhawk. The average listing price was $289,118 and the average sales price was $280,000. This means that homes sold for approximately 96.8% of the list price. The average number of days on the market was just 27, which is about 40 days less than the average for the Austin MLS. The square footage of the homes sold averaged 3,247, and the price per square foot for the sales was $87.00.
In other area news:
Located at the intersection of the aforementioned toll roads (45 and 130), Stone Hill Town Center is slated to open within a few months, and it promises over 1,000,000 square feet of shopping and entertainment. Home Depot, Best Buy, Chili's, several retail clothing stores, a large Cinemark theater, and a fitness center are among the anticipated tenants.
Here is a link to the developer's map, showing the stores and restaurants committed to open there:
Additionally, at 685 and Pfluger Lane, Pfluger Crossing is already open and expanding to 500,000 square feet. Starbucks recently opened on the northern edge, and other stores there include Wal-Mart, Gamestop, Sprint, and Baskin Robbins. The expansion will include a Radio Shack location facing Highway 685. They recently opened a Starbucks there as well.
If you are considering selling your home in the Fairways of Blackhawk (or anywhere in the general Austin area), please feel free to give me a call. I would love the opportunity to help you get it sold as quickly as possible. You can visit my primary Austin real estate website at www.austintexashomes.com.
You can also reach me anytime on my cell phone at 512-796-7653 or via email at jason@austintexashomes.com. Thanks for checking out this brief analysis!
