THE PROPERTYSMITH POST
01
Issue
No.
Premier edition
Austin, tx
Jan-22-2024
lost creek Neighborhood real estate news
Welcome to the premier edition of THE PROPERTYSMITH POST.
We are here to be your trusted, local Lost Creek real estate resource.
Imagine sitting down with a good friend, sharing stories, and staying in the know. That's exactly what we aim for – keeping you updated with the latest in a way that's clear, straightforward, and feels like a friendly chat. So, let's dive into the story together!
Giving back to our community is a core value and we actively support causes such as Flight Force, Dell Children’s Hospital, Eanes Education Fund, and Lost Creek Neighborhood Association. If you have a noteworthy cause or event that deserves recognition, give us a holler.
Feel free to reach out via text, call, email, and Instagram. Connecting with you means the world to us! Thanks for joining our journey with the new publication.
Lost Creek is More Than An Address… It’s A Lifestyle.
Leslie Odom
Claude Smith
Elizabeth Glick
512.241.5277
512.657.3981
512.522.4525
THE PROPERTYSMITH POST
02
Page
No.
Premier edition
Austin, tx
Jan-22-2024
LOCAL MARKET UPDATE: Yr/Qtr in review
With 2023 in our rearview mirror, we’ve got an update on real estate activity in the hood.
So, here goes…
Lost Creek home sales climbed back up from a low of 33 in 2022 to 46 sales in 2023. While an improvement, it still lags the 20-year average of around 60 per year.
The significant differences over the past two years have been: (1) a surge in the median days to sell (from 5 days in 2022 to 25 days in 2023, the highest since 2009) along with (2) a sizable difference between the closing price and asking price (declining from almost zero percent in 2022 to 8.5% in 2023)...
When that happens, a value drop usually follows, and it did, with median home sale prices declining by approximately 15%. The good news is that median prices still align with 2021 values.
You can see the juicy details below for all you data crunchers out there.
Lost Creek Homes Inventory December 31, 2023 | ||||||
Adress | List Price | Days On Mkt | Beds | Baths | Sq Ft | Pool |
1702 Bay Hill Dr | $1,300,000 | 30 | 3 | 2 | 2,152 | No |
1213 Lost Creek Bl | $1,175,000 | 57 | 3 | 2.5 | 2,073 | No |
6613 Whitemarsh Valley Walk | $1,649,9000 | 59 | 4 | 3 | 3,029 | N0 |
5935 Cape Coral Dr | $2,148,000 | 237 | 4 | 3.5 | 4,550 | Yes |
1704 Trevino Dr | $2,975,000 | 337 | 5 | 4.5 | 4,490 | Yes |
Leslie Odom
Claude Smith
Elizabeth Glick
512.241.5277
512.657.3981
512.522.4525
THE PROPERTYSMITH POST
03
Page
No.
Premier edition
Austin, tx
Jan-22-2024
LOCAL MARKET UPDATE: Yr/Qtr in review, continued...
Activity in Lost Creek Jan-Dec | 2023 | 2022 | 2021 |
Number of Homes Sold | 46 | 33 | 59 |
Number of Homes for Sale (end of Dec) | 5 | 8 | 2 |
Average/Median Days to Sell | 49/25 | 22/5 | 8/3 |
Average/Median Sale Price (000's) | $1,403/1,264 | $1,624/1,475 | $1,281/1,250 |
Average Sales Price as % of Asking Price | 91.5% | 99.3% | 103.4% |
So, here we go rolling into 2024...
Marshall Tract
The Marshall Tract residential development has been moving at a snail’s pace for a while, but it’s looking like that may change soon.
PROPERTYSMITH recently met with the Milestone management team and shared our impression of the market. Our takeaway was that Milestone expects to begin moving dirt and installing infrastructure by the end of Q1 2024, with new homes showing up in the next 15 months.
We think that’s great news, bringing viable options to Lost Creek residents wanting a new home while still staying in the neighborhood.
Disannexation Vote
Mark your calendars for Saturday, May 4, 2024.
There will be 2 ballot items:
1) House Bill 3053 gives Lost Creek residents the ability to vote on whether or not to remain in the city of Austin
2) Residents will be able to vote whether or not to be annexed into ESD9 (the local emergency services district which includes the Westlake Fire Dept).
You can expect more information in the coming weeks and months.
Thank you for reading. If you want to connect online, we invite you to follow us on Instagram.
We welcome the opportunity to serve you. How Can We Help?
Leslie Odom
@lesliemodom
Claude Smith
@propertysmithrealty
Elizabeth Glick
@elizabethglick