Mueller Austin – Urban Infill at it’s Best
What do you do when you have a giant swath of urban land, much of it paved over or living as giant, weedy lots?
If you’re a smart developer in Austin, TX, you build ecologically conscious (aka “green”) homes and mixed use buildings at an old city airport (aka RMMA), and enable more people to live and work in closer proximity to the heart of the city of Austin.
The old Robert Mueller Municipal Airport (RMMA) on the East side of Austin has green homes, a high concentration of pediatric medical specialists (‘Specially for Children), Dell Children’s Hospital, plus lots and lots of big box shopping.
All of this is surrounded by some remaining weedy lots, the old airport control tower, and lots and lots of carefully-maintained community spaces – walking paths, ponds, playgrounds and lush landscaping – well, as lush as it gets in central Texas.
How is the Market in the Mueller Development Area?
As of February 21st, 2011, only 4 homes are for sale in the Mueller subdivision. The lowest price of $160,990 will fetch you a home that is part of the Mueller Affordable program, geared towards potential home buyers that have incomes that fall at or below 80% of the Austin median family income. This home has 1076 square feet and two bedrooms and like most homes in Mueller sits on a very small lot of 1,590 square feet. The next lowest price for an active listing in Mueller is, sit down for this, $749,000. (Hence the need for an affordability program.)
What did a Mueller Home cost in 2009?
In 2009, 50 homes sold in Mueller, ranging from $225,837 for a 1,287 square foot home up to $995,000 for a 3,563 square foot home. The median selling price in 2009 for a home in Mueller was $349,304. Median price per square foot was $164.52. The median size was 2,122 square feet and the median days on the market (DOM) was 82. None of these were listed as foreclosures.
The Mueller Austin TX Market: 2010
Was 2010 a better year for home sales in Mueller? You be the judge.
Of the 44 homes that sold, 1 was listed as a foreclosure. The median price for the homes that sold in Mueller Austin TX was $382,397. Sales ranged from $272,500 for a 1,439 square foot home to $945,000 for a 3,600 square foot home built in 2009. Median price per square foot for the 44 homes that sold in 2010 was $186.94, compared to $164.52 in 2009. Median days on the market was 66, down over 2 weeks from 2009. The houses that sold ranged from 1,437 square feet to 3,664 square feet with a median size of 2,044 square feet.