Eleven Oaks Realty is proud to present their March 2015 Pflugerville Real Estate Price Report measuring activity in the Pflugerville single family home market.
Number of Sold Homes in Pflugerville Up 43%
The biggest story in this month’s Pflugerville Real Estate Price Report comes by way of number of homes that sold. In March 2015, Pflugerville saw a 43% increase in the number of homes sold from March 2014 to March 2015. In March 2015, we saw 153 homes sell in Pflugerville compared to 107 in March 2014 marking a 43% (46 home) increase in year over year numbers. This increase is number of homes sold was to be expected with the increase in number of homes that went under contract last month.
What does this mean to buyers? Buyers looking to buy a home in Pflugerville this Spring will have more competition, but will also have more choices. Demand is up 43% in Pflugerville, so buyers who want to be successful will have to act quickly when they see homes that are a fit. Work with a professional Realtor who has strategies for getting your offers accepted – without offering more money.
What does this mean to sellers? If you’re thinking about selling, strike while the iron is hot. Pflugerville home buyers are coming out in full force. With demand up 43% and supply up 14%, there is more demand than supply, which means more money in your pocket. If you want to sell your home for top dollar, work with a professional Realtor who knows what buyers are looking for so they can help you position your home as the best one on the market. Hint – the best homes get the most money.
Pflugerville Homes Under Contract Up 5%
In March 2015, 173 homes went pending (under contract) in Pflugerville compared to 164 in March 2014, marking a 5% increase in year over year numbers. Last month, Pflugerville saw one of the biggest increases in the number of homes that went under contract. This month we saw a small increase from last year, but an increase from last month’s numbers as well, showing the strength of the Pflugerville real estate market.
Pflugerville Median Home Price Up 21%
The median home price of a Pflugerville home in March 2014 was $174,000 compared to $209,900 in March 2015, marking a 21% increase in year over year numbers. Buyers are willing to pay significantly more than they were last year and are starting to price below $200,000 buyers out of the Pflugerville market.
Median home price helps us see the distribution of homes sold and does not really give us an indication of the increase or decrease in a particular home’s market value. To analyze market value, we’d have to take an in depth look at a neighborhood. If you’re looking for something like that, please check out our Pflugerville Home Values Report.
Pflugerville Housing Inventory Up 21%
In March 2015, we saw 1.0 months of inventory on the market, compared to 0.8 months of inventory in March 2014, showing a 21% increase in year over year numbers. Though we saw an increase, we are still at extreme seller’s market levels.
Time to Sell Home in Pflugerville Down 9%
In March 2015, it took 34 days to sell a home in Pflugerville, on average, compared to 38 days in March 2014, marking a 9% (4 day) increase in year over year numbers.
Number of Homes Taken Off the Market Down 30%
In March 2014, there were 10 single family homes taken off the market compared to 7 in March 2015, marking a 30% (3 home) decrease city wide.
If your Pflugerville home was priced right but it still didn’t find a buyer, maybe there was something else going on. The biggest culprits we see are incorrect info in the MLS and poor marketing. Check out our Pflugerville Home Marketing Plan to see how your homes would be marketed if we listed them. If you’d like our opinion on why your home didn’t sell email us at info@11OaksRealty.com.
Having trouble selling your home? Check out our Pflugerville Home Not Selling resources page to find out why.
Number of Homes on the Market Up 14%
In March 2015, we had 348 homes for sale in Pflugerville, compared to 306 in March 2014, showing a 14% (42 home) increase in year over year numbers. Thankfully we are seeing more inventory this year to help meet some of the demand.
Number of Homes Listed for Sale Up 19%
In March 2015, we saw 159 homes introduced to the market compared to 134 in March 2014, marking a 19% (25 home) increase. Pflugerville home sellers are recognizing buyers are willing to pay more than last year and are striking while the iron is hot.
Supply Up 14% and Demand is Up 43%
This month we saw a 14% increase in supply (number of properties for sale) and a 43% increase in demand (number of sold properties). Though supply is up from last year, demand is much stronger, causing buyers to fill the inventory pinch.
Median for Sale Up 19% vs Median Sold Price Up 21%
This chart compares the Median for Sale Price vs the Median Sold Price to show their relationship. In Pflugerville, we saw a 19% increase in the median for sale price and a 21% increase in the median sold price of a single family home in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
March 2015 Pflugerville Real Estate Price Report – Strictly Numbers
For those of you who prefer to see the actual numbers, we’ve included the figures for March 2015 Pflugerville home sales below. The most expensive home that sold in Pflugerville in March 2015 sold for $412,250 and the least expensive home sold for $115,000. Homes ranged in size from 929 sqft – 4,088 sqft with an average size of 2,180 sqft. The average price per square foot for a home that sold in Pflugerville in March 2015 was $105.12 with the lowest being $53.33/sqft and the highest being $175.93/sqft. It took, on average, 43 days to sell a home in Pflugerville and sellers received, on average, 99.20% of their original list prices.
|Beds||Baths||SqFt||List Price||LP/SqFt||Sold Price||SP/SqFt||SP/LP||SP/OLP||ADOM|
|Status||Sold||Sold Date||March 2015|
|Property Type||Single Family Homes||Number Sold||155|
|Source:||ABoR Sales Data||Area||Pflugerville|
Time to Buy? Sell?
As we always say, the best time to buy or sell a home is when you need to buy or sell. If you have a house to buy, buying when its a sellers market may hurt you on the buying end, but you’ll make it up on the selling end. If you’re trying to get into the market for the first time, the only way you’ll know that we’ve “hit bottom” is when its in the rear view mirror. Work with professionals who can help you analyze your financial and lifestyle to determine if now is the right time to buy or sell.
Looking strictly at the numbers, it appears the recommendation for this month is – it’s time to sell. With 1 month of inventory and a 43% increase in demand, it is clear buyers are serious about becoming home owners in Pflugerville. Though supply is also up, sellers who position their homes as a value will have no trouble finding a buyer quickly. And, with the median sold price up 21% from last year, we know the buyers that are currently in the market are willing to pay significantly more for a home this year than last year. If you’re considering selling, work with a Realtor who can help you get top dollar for your home. Check out our 88 Ways to Sell Your Home Faster and For More Money for some tips on how you can prepare your home to meet the market. Get your home on the market during the busiest time of year and you’ll likely get thousands more for your home. For more info about our Home Selling Program, check out Sell My Pflugerville Home.
If you’re in the market to buy, understand you’re going to have some competition. Work with a professional Realtor who has strategies for getting your offers accepted in competitive markets that involve more than just a higher offer price. Start your search as early in the year as you can. As we head deeper into Spring, we expect higher sales prices and more competition. If you’re looking to buy, we can help you find the right house in the right neighborhood for you and your family. We know the market and know how to negotiate offers that get accepted, even in strong markets. For more info about buying a home, visit Buy a Home in Pflugerville.
Questions About the Pflugerville Real Estate Price Report?
Do you have questions about this Pflugerville Real Estate Price Report? Call us at (512) 827-8323 or email us at info@11OaksRealty.com and we’ll help you in any way we can. If you’re looking to buy or sell Pflugerville real estate, don’t forget to check out our Buyer Resources and our Seller Resources for more tips.