COVNA REAL ESTATE MARKET UPDATE
June 2016

As a real estate agent, one of the most frequent questions I hear from clients, friends and family is: how much is my property worth? There are a number of factors that determine the value of every home and in the end it’s the market that dictates exactly what it’s worth. Since moving into the Castlewood-Oak Valley neighborhood in October of 2013, I have watched the values of the properties in our neighborhood skyrocket. I have often wondered how our tucked away neighborhood in South Austin compared to the city as a whole. The Austin Board of Realtors provides housing market statistics and the current median price for single family homes in the city of Austin is $359,450. The average number of days that homes spend on the market is 41. Looking at the last 12 months of sales in our neighborhood, there were 16 properties that sold and here is a breakdown of sold price and days on market:

	Sold Price	Days on Market
Min	$265,000	1
Max	$418,246	43
Avg	$343,524	16
Med	$353,000	9

I included the minimum and maximum values to show how much of a range there is in both sold price and days on market. The median sold price of COVNA homes is right in line with what ABOR shows for the city of Austin and I think it’s fair to say that we live in a highly de- sirable neighborhood based on the average days on market being so low. There is something unique about our wonderful neighborhood and as Austin continues to grow, our property values will continue to trend up. Paco Bertsch - COVNA Vice President

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