What is the current market like for homes in Crystal Falls, Leander? Are home prices trending upwards or downwards?

Asked by Ryan Sherlock, Hideaway, TX Sun Feb 16, 2014

I'm looking to move into the Crystal Falls area for the short term (5-8 years) and I'm curious to know whether home prices are looking to increase, stagnate, or decrease during that time.

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15
Jeffrey Schn…, Agent, Austin, TX
Sun Feb 16, 2014
BEST ANSWER
Ryan,

Like every other investment, values will rise and fall over a long enough period of time. Prices in central Austin began a slow rise in the middle of 2010 as the inventory started to be bought up. By 2011, prices in several central Austin areas were beginning a 10% year-over-year increase in values, that in some areas has sustained itself to this day.

As you know Crystal Falls is on the outer fringe, in northwest Leander, and it's appreciation is not of the magnitude of the rise in central Austin. Because Crystal Falls is made up of several different neighborhoods, the answer to your question depends on which neighborhood you're speaking of.

Homes in the Highlands section saw noticeable appreciation over the last 5 years, with the majority of appreciation occurring in the last 2 years. The most current 3 year appreciation, year-over-year, seems consistently in the 5% range based on a pair-sales analysis that we do, not as strong as central Austin, but still quite respectable. Homes in this neighborhood range in value from $210K to $560K, and an average price of $335K.

Contrast the Highlands with Grand Mesa, where the home prices range from the low $300s to the high $700s. Higher priced homes tend to lag the market, and tend to appreciate less percentage wise, than homes that are priced more to the average of the market. In Grand Mesa, the appreciation has been considerably lower over the same time period, in the 1% to 2% range, again, driven by the lower market demand for higher end homes.

I don't support the assertion that Cedar Park nor Leander will outgrow Austin, that seems impossible, especially when the employment base is still centered in Austin. That said, the addition of the 183 Tollway, and the light rail running from the station just north of Crystal Falls, all the way to downtown Austin, is certainly helping the areas growth quite a bit.

All this said, there are no facts about the future. Historically, over any 8 year horizon in central Texas, for all home types except those above ~$1.5M, none of the data shows a loss in value for a purchase made in year 1 and a sale made in year 8, not even over the shorter time period of a purchase at the peak of the market just prior to the last recession 6 years ago and today.

Welcome to central Texas!
3 votes
Don Groff, Agent, Austin, TX
Thu Mar 13, 2014
Values are increasing. In November 2012 I helped a client buy a home for $625,000. A year later they needed to move and we listed and sold it in 7 days for $750,000. That is the higher end but in general home prices are moving up in just about all areas as inventory is still low.

_____________________________________________________
Don Groff | REALTOR® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | listings@dongroff.com
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
Web Reference:  http://www.austinlisted.com
0 votes
Christi Bayl…, Agent, Pflugerville, TX
Fri Feb 21, 2014
Crystal Falls has seen an upward trend in the past year and I don't see it plateauing or dropping anywhere in the near future!
0 votes
Marilyn Glen…, Agent, Austin, TX
Mon Feb 17, 2014
Hi Ryan,

Here's the short answer: Prices are holding strong in Crystal Falls. I recently helped buyers purchase and they are very pleased with the rate of appreciation which is continuing to rise. All of the phases in Crystal Falls seem to be holding value very well. It's a great area, very good schools, and commuting to Austin (if needed) is not too difficult and worth it! They are continuing to build in Crystal Falls (although in the upper price range) which is always a good sign. I'm very familiar with this area, just spent the weekend visiting friends in Crystal Falls and would love to be able to help you relocate! You can reach me directly at 512 565 0911, mjglendenning@austin.rr.com. Marilyn
0 votes
JOSEPH E JAR…, Agent, Austin, TX
Mon Feb 17, 2014
Ryan, the Fairways is a very desirable section and all leading economic indicators point toward a steady and healthy upward rise in values in that area. If you are not yet working with an excellent, qualified Realtor, feel free to get touch with me and I'll be happy to assist you. By the way, whether you go new or resale, you should have a good Realtor on your side representing you. New home sales reps work for the builder, not you, and their job is to get the highest price and best terms for the builder, not the buyer. I happen to work for the #1 real estate company in Austin, Keller Williams Realty, and we have quite a bit of clout with all the new homebuilders, which usually gets you a better deal as we sell quite a bit of their inventory.

Please let me know if you need some assistance and I will be happy to discuss your situation. I have an excellent team of lenders, inspectors, etc. and do not charge anything for my extensive services. Thanks, Joe

Joe Jarusinsky, REALTOR®, Keller Williams Realty, Austin's #1 Real Estate Company, Call 512-261-4415
0 votes
Bryan Grace, Agent, Bastrop, TX
Mon Feb 17, 2014
Most definitely up. In my opinion, the upward trend in housing prices is sustainable, and will continue to rise for the foreseeable future.
0 votes
Eric Hegwer, Agent, Austin, TX
Mon Feb 17, 2014
In my professional opinion, home prices will increase.
I can give you detailed stats on Crystal Falls if you are interested. Current price trends, as well as historical data for the last 5 or so years.
0 votes
Jeffrey Schn…, Agent, Austin, TX
Sun Feb 16, 2014
Ryan,

Most of what's available in the Fairways is going to be new homes. Fact of the matter is that if you have a dollar to spend, the lowest possible return you will ever see between two identical homes, is by buying a new home in a market that is considered a seller's market. The moment you turn the key the home is worth 10% to 15% less than you paid for it. That's not to say buying a new home won't be a satisfying purchase, because let's be frank, you get a new home. But if you're considering the new homes in this community, just be aware of what "new" is going to cost you. Your "financial return" will be considerably lower than if you bought a resale with similar features, and the resale could be as little as a year old, yet it will cost you far less than the new home with the same features.

Fairways is priced between Highlands and Grand Mesa, and the newer section to the west has much larger lots than the original section.

Regards,
0 votes
Ryan Sherlock, Home Buyer, Hideaway, TX
Sun Feb 16, 2014
Thanks to everyone who responded to my question. I should have mentioned that I am looking at The Fairways in Crystal Falls. I understand that 5-8 years is a long way out to predict what may happen but I wanted to make sure that an investment in that area will pay off, or has paid off in the past.
0 votes
Christopher…, Agent, Pflugerville, TX
Sun Feb 16, 2014
Hi Ryan,
I used the MLS to perform a Market Data Analysis on the crystal falls neighborhood. I see that, Now is a great time to get into that area. House's are lower in price now than they have been in the past 6 months. After reviewing the history of that neighborhood over a 4 year span I believe that the market Price for that area will increase.
Trying to predict 5-8 years ahead is very tricky and complex task. I will speak to my Broker about this, and would like to email you with further information. If you are interested in hearing more you may contact me at chris@teamprice.com. I will have my brokers opinion for you in my first response. Thank you and have a good night.
0 votes
Claire McInt…, Agent, Austin, TX
Sun Feb 16, 2014
Hello Ryan,
This area as well as the Austin area in general is seeing home prices trending up. The shortage of ready to build lots and the projections of job growth in the area should bode well for property value appreciation. I just sold a house near there to someone from Hideaway. When are you planning to move?

As an architect & builder as well as a real estate broker I offer a unique vision to my buyer clients.

Best,

?Claire McIntyre, Architect / Real Estate Broker / Builder
512 699 9912
MMI McIntyre Associates
Real Estate Brokerage
http://www.mmirealestate.com
claire@mmirealestate.com
McIntyre & McIntyre Inc
Architecture / Engineering
Project Management
http://www.mmibuildings.com
0 votes
John Crowe, Agent, Austin, TX
Sun Feb 16, 2014
The current highest growth areas are the suburbs. Suppressed demand during the recession has created a bit of a buyer frenzy. Based on buildable lot numbers, new construction starts, current inventory and more, it appears to be a great market for the durable future. I have a presentation from a housing economist, happy to share if you are interested.

John Crowe, Broker
Keller Williams
(512) 636-0100
0 votes
Camille Abbo…, Agent, Austin, TX
Sun Feb 16, 2014
Hi Ryan!
The trend is up! Austin is experiencing tremendous growth throughout the area. Because of a great school system, the Cedar Park/Leander is very popular. This area is expected to surpass the Austin area in population in the years to come. Inventory is low and expected to remain that way. Builders are projected to build 9600 units this year which is about what they built this year. Having clients that live in Crystal Falls, I would highly recommend it.

Should you want more information, please feel free to contact for a free buyer's package.

Camille
0 votes
Laura Mcmill…, Agent, Austin, TX
Sun Feb 16, 2014
Hi, Ryan

Unlike what some broker in Frisco, Texas said that "any answer you receive is going to be a guess" is not in our MLS and is providing FALSE information. As Ron stated earlier Crystal Falls is seeing a growth spurt as it will continue to do so by statistics. Much of Austin's future growth will be going into the Cedar Park and Round Rock area and we will continue to see the prices rise along with this growth. I participate in pre-MLS market communities as well as the Austin MLS and see many houses coming on the market in this specific neighborhood.

It is quite doubtful to see the Austin area decrease or even be stagnate as we are always in the top 10 and often in the top five cities seeing growth. In fact, it is most recently noted there are approximately 110 people moving to Austin daily!

If you wish to have a knowledgeable REALTOR® provide you sales information, I am more than happy to help you - giving you the tools needed to make a wise decision. Moving, lending, market studies - anything you need to make your transition smooth.

Please consider wisely as Trulia is now being inundated with sales pitches instead of answering your question.

You may reach me through the information included below. Best to you in your decision!

Laura McMillan
REALTOR®, ABR, ASP, CLHMS, CRS, ePRO, GRI, SRS
Avalar Austin
http://www.avalaraustin.com
http://www.austintexasrealestate.me
laura@avalaraustin.com
512.903.5268
0 votes
Ronald Culli…, Agent, Austin, TX
Sun Feb 16, 2014
Hello Ryan.

In general all areas of Austin are experiencing price appreciation. Some, generally close to the center of town are experiencing dramatic growth in prices that are rather amazing. Areas further out are where buyers are turning to in order to be able to afford the type of home they desire and with the expected continued growth of the Austin area this will drive prices higher there as well, probably not as dramatically. Crystal Falls had a period of several years where prices were more or less stable but is now experiencing the impact of lots of buyers and few properties available. It bodes well for that area over the next few years like you asked about.

Please feel free to call me to discuss the overall market or answer any other questions you might have. I help lots of buyers make sound decisions (sellers too.)

Ron Cullinan
Avalar Austin
GRI, CRS, ABR, CLHMS, e-Pro
512-799-3239
austin_realtor@earthlink.net
http://www.austinonlinehomes.com
0 votes
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