HometownGeorgetown.com

Yesterday, I met with Barry Carew, head of the Georgetown Area Builders’ Association (GABA), and we talked about all the wonderful builders in our area. Georgetown is anticipating a lot of growth in the coming years, and builders are preparing for it by getting homes ready now. Our discussion made me curious to find out exactly how many new homes are currently on the market and how many had sold over the past year or so. I searched for homes with a Year Built of 2007 or 2008, and I broke it down between those that are currently active in the MLS and those that had sold since January 1 of last year.

The graphic above illustrates the average new home that is currently available for sale. Note, I did not say the typical new home. Mathematically, I don’t know how to figure out what’s “typical.” There are five homes currently for sale in Georgetown that are priced at over a million dollars. When you take these out of the mix, the average list price drops down to $390,691. Even that doesn’t tell the full story. Of the 133 new homes currently for sale, 43 are priced under $250,000. The map below gives an overview of the location of some of the homes currently on the market. As you can see, there are options all over the Georgetown area.

Now compare the homes currently for sale to the 71 new homes that have sold over the past year or so. These homebuyers still got an average of four bedrooms (although they lost a half-bath), and the average sales price was under $300,000. 37 of these homes were priced under $250,000. That’s 52%, compared to 32% of the new homes still for sale. Does that mean that the homes for sale are overpriced? Not necessarily. It simply means that builders currently have a lot of high-end homes for sale, whereas most of the homebuyers over the past year were looking for something a little simpler and less expensive. If you’re looking for a luxurious home with “wow” features like granite countertops, now is a great time to buy. Interest rates are very low, and you have lots of inventory from which to choose.

I’ve been inside a lot of the new homes out there, and I can tell you that your jaw will drop when you see the beautiful features in them. One in Tuscany Villas has a stovetop built into an incredible stone archway, and travertine floors the color of cream. This is a new home with the charm and character of a home built in Italy several hundred years ago.

If that’s not your style, I’m sure I can help you find something that you’ll love. Please give me a call at 512-876-6544 if you’d like more information about the new homes currently for sale here in Georgetown. Or, for that matter, any homes currently for sale. I’m here to help!