Santa Rita Ranch is located in fast-growing Liberty Hill in Williamson County. KENNON EVETT

Austin Business Journal reports, "For the fifth-straight year, Liberty Hill’s Santa Rita Ranch is the top-selling master-planned community in the Austin metro, and it's also in the top 20 nationally.

The sprawling neighborhood claimed the metro's title despite an overall drop in home sales compared to 2023, according to Robert Charles Lesser & Co.’s 2024 list of the best-selling master-planned communities in the nation. It came in at No. 18 nationally, with no other community in the Austin metro in the top 50.

Overall, 644 homes were sold in Santa Rita Ranch in 2024, compared to 742 in 2023, a 13% drop. In Texas, communities in Katy, Cypress, Aubrey and New Caney ranked higher on the national list.

“It was a busy year in Santa Rita Ranch,” Santa Rita developer Ed Horne said in a statement. “Not only did we see nearly 650 new homes sold and welcomed hundreds of new residents, we also welcomed new schools and new amenities, including an 8-acre complex with three pools. And we announced another new amenity complex that should start construction this year.”

The new schools in Santa Rita Ranch are Liberty Hill Independent School District’s Tierra Rosa Elementary School and Georgetown Independent School District’s San Gabriel Elementary, according to an announcement. Divine Savior Academy also launched ninth grade classes in 2024.

Santa Rita Ranch’s growth is unsurprising, because Liberty Hill — where Santa Rita Ranch is located — is the fastest-growing city in the region. It's also in Williamson County, where first-time homebuyers have been flocking thanks to lower home prices compared to Austin.

Homes in Austin carry a median sales price of $573,400, according to a November market report from the Austin Board of Realtors and Unlock MLS, compared to just $423,120 in Williamson County. And in Santa Rita Ranch, homes are starting even lower, ranging from the $300,000s to almost $1.5 million.

Williamson County’s more affordable inventory has been attractive to first-time homebuyers, said Clare Knapp, ABOR and Unlock MLS housing economist. As a result of mortgage rates climbing in 2022, first-time buyers “sidelined” themselves through 2023, expecting mortgage rates to lower in 2024. Though mortgage rates didn't fall significantly in 2024, many of those first-time buyers have since been re-entering the market.

"First-time homebuyers have sort of taken themselves off of the sidelines and said, ‘You know what? Even though rates aren’t necessarily lower in 2024, we want to go ahead and purchase a home,'" Knapp said. "That’s why we have seen a stronger performance among that more affordable inventory within just the broader MSA.”"

 

Source: Austin Business Journal 

Written by: Cody Baird

Published: January 10, 2025

Posted by Grossman & Jones Group on

Tags

Email Send a link to post via Email

Leave A Comment

e.g. yourwebsitename.com
Please note that your email address is kept private upon posting.