Sunset Valley is a small independent city surrounded by Austin. It is located about 15 minutes southwest of downtown Austin near the intersection of Hwy 290 and Mopac. Sunset Valley is probably best known for its large shopping centers with a variety of big box retailers such as Home Depot, Home Goods, TJ Maxx, Academy Sports and Outdoors, Nordstrom Rack, Old Navy and many others. However, this small city also has some of the most beautiful tree lined residential streets.
Sunset Valley was founded in 1954, and the entire city measures just one square mile. According to the 2016 Census, Sunset Valley has a population of 696 residents. There are only about 150 residences in the City of Sunset Valley. Homes in Sunset Valley tend to be on larger lots, and residents of Sunset Valley enjoy an extremely low property tax rate of just under 1.8%. Much of Sunset Valley is dedicated conservation land; Williamson Creek runs through Sunset Valley, and a handful of residential lots are partially located in the floodplain.
In 2017, there were only 8 residential sales in the City of Sunset Valley. The following trends are based on these sales.
Average Home Size: 4 bedrooms, 3 baths (2,940 square feet)
Average Lot Size: .956 Acres
Average Year Built: 1983
Average Days on Market: 39
Median Home Sales Price: $665,950
If you are interested in purchasing a home in Sunset Valley, you can click here to view all available homes for sale in Sunset Valley.
The most recent market report for Austin area home sales was just released by the Austin Board of Realtors. May’s market report showed continuing trends of rising prices, low supply and strong demand in the Austin market. The median price for homes within the city limits rose to the greatest price ever of $389,000. Outside the city limits, prices continue to rise as well. In the greater Austin area, the median sales price increases 5% year over year to $325,000 last month.
Rising home prices in the greater Austin area continues to make it challenging for many first-time home buyers to purchase a residence in the Austin area. Home prices are increasing at a rate far greater than median family income. Data from the Department of Housing and Urban Development (HUD) shows the Austin-Round Rock median family income increased 17.5 percent from 2013-2018. Over the same time frame, median home prices in the Austin-Round Rock MSA increased 42.5 percent.
With the steady demand for Austin housing, builders struggle to keep up with the steady influx of buyers. Antiquated building restrictions, and an inundated city staff further delay the creation of more housing. As we have seen in past months, buyers are flocking to the suburbs in search of more affordable housing options. In order to encourage the growth of affordable housing within the city limits, there must be changes made to the city’s land code. Conflicts over the City of Austin’s CodeNEXT plan are further delaying the ability for developers and builders to take action towards the City of Austin’s housing crisis.
If you’re interested in learning more about what’s happening in your specific local market, contact me today. I’d be happy to provide a detailed market report for your specific zip code.
Looking for a fun activity to spend the day with Dad this Father’s Day? Look no further; here are 10 ideas for celebrating the day with Dad on June 17th, 2018 in Austin, Texas.
Father’s Day in the Park by Austin Symphonic Band
Zilker Park- Hillside Theater
Austin, Texas 78704
Banger’s Sausage House & Beer Garden Big Band Brunch
79 Rainey St, Austin, TX 78701
Father’s Day at Live Oak Brewing Company
1615 Crozier Ln, Del Valle, TX 78617
Father’s Day Screening: True Grit @ Alamo Drafthouse Slaughter and Lakeline Locations
5701 W Slaughter Ln, Austin, TX 78749
14028 U.S. 183, Austin, TX 78717
Round Rock Express Baseball Game
3400 E Palm Valley Blvd, Round Rock, TX 78665
Marble Falls Soapbox Classic
3rd and Main St. Marble Falls, TX 78657
Chocolate Tastings and Whiskey Pairings at Delysia Chocolatier
2000 Windy Terrace #2c, Austin, TX 78726
Father’s Day Bikes and Beer Bash at Friends and Allies Brewery
979 Springdale Rd #124, Austin, TX 78702
Father’s Day Brunch Buffet at the Oasis
6550 Comanche Trail, Austin, TX 78732
Father’s Day BrewBCruise
208 Barton Springs Rd, Austin, TX 78704
Erika Rae Albert
Sharing my Austin real estate updates, home owner tips, & more.