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Falcon Pointe - Pflugerville, Texas - Market Report - 2nd Quarter 2008 (April - June)

  


Falcon Pointe is a 700-acre master-planned community in the fast-growing Pflugerville area. As the largest master-planned community in Pflugerville, Falcon Pointe offers homes priced from the $170,000s to $300,000s by leading builders, along with a popular Residents Club, parks and greenbelt trails. Falcon Pointe is home to three on-site schools, all part of the highly acclaimed Pflugerville Independent School District.


I have lived in the adjacent Blackhawk area for almost six years, so I try to stay on top of trends in the area.


Currently, there are 32 new and resale homes available on the MLS in Falcon Pointe, with an average asking price of $263,876.  The average square footage for these homes is 2,970, for an average price per square foot of $90.43.


Presently, there are 6 homes under contract in the subdivision, with an average listing price of $212,676, and an average square footage of 2,603, yielding an average price per square foot of $88.85. 


Over the past quarter (April through June 2008), there were 9 sales closed within Falcon Pointe.  The average listing price was $262,647 and the average sales price was $244,489 (93% of asking).  The average size was 3,081 s.f., which put the average price per square foot at $81.00 with the average days on market running at 81 days (slightly more than the overall Austin market). 


I have noticed a trend toward larger homes in Falcon Pointe lately, with five homes over 4000 square feet under construction presently.




In other immediate 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:


http://www.newquestproperties.com/property_retail/property/Stone%20Hill%20Town%20Center/SitePlan/pfu5-07.pdf


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 Falcon Pointe (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 quickly.  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! 



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