Falconhead West is a community of approximately 460 houses in the City of Bee Cave, 20 minutes West of Austin. Falconhead West is also part of the Exemplary Lake Travis ISD, which is why it's a very popular neighborhood for people who want low taxes in addition to great school.
The builders have been out of Falconhead West for just about a year now. Since then, as with many newer commnuities, the resale starts to take off as people chase the next new community.
Below are two charts. The first one is for January 1 - September 9, 2013 and the second one is Year to Date for 2014, which is Jan 1- Sept 9.
As you can see, the amount of sales were quite comparable, with 31 sales in 2013 and 29 sales in 2014 during the exact same period. The blue on the graph represents properties that sold in "under 30 days".
Last year, in 2013 there was a frenzy to buy in the community. Some of it was getting the final inventory homes from the builders, while the rest were people capitalizing on the fact that the inventory homes were getting sold and people would want a resale that was ready to go. Nearly 60% sold in this blue section.
However, in 2014, the frenzy stabilized a little. Not as many homes sold in under 30 days. Why? There are many reasons, in my opinion. My first observation, as I live in the Falconhead West community, is that the taxes went up. We used to pay under 1.9% when we first moved here in 2009. Now we're at 2.2%. No, that's not very much of a change, but it's still a change as we're no longer "that far off" from parts of Lakeway at 2.4%.
Second, the new communities. Bella Colinas is right across the street. They compare in size and price. Their taxes are 2.85% and that hurts them, but doesn't deter everyone. 1.7 miles further West on 71 is the new community Sweetwater. Though their taxes are at 3.14%, they have natural gas and we have community propane. Serene Hills, starting at the mid- $600's and Rough Hollow starting around the $500's are two more communities with taxes reaching and exceeding 3% in the area.
With so many more choices, the sales in Falconhead West did slow down... BUT... the pricing went considerably higher. In 2013, the highest sale was $715,000 with the lowest sale at $345,000 and an average of $524,144. In 2014, the highest sale was $764,900 with the lowest sale at $363,000 and an average of $544,350.
I don't think Falconhead West is hurting, and we always welcome new neighbors. I know the community inside and out, so if you're looking to buy or sell in FHW or the surrounding areas, please contact me today!
**Are You Packed Yet?**
Donna Harris, REALTOR®
Donna Homes, Owner
Austin TX Real Estate and the surrounding areas of Lakeway, Bee Cave, West Lake Hills, Cedar Park, Round Rock, Steiner Ranch, Spicewood, Circle C, and everywhere in between… Hill Country Austin TX Real Estateand beyond.Whether you’re buying or selling an Austin TX Home, I’ll be with you every step of the way.
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Copyright©2014 By Donna Harris, All Rights Reserved. You may re-blog with links back to this post.
*Falconhead West - Bee Cave TX - Market Report * was first published on donnahomesblog.com.