AUSTIN’S HOUSING MARKET IS STRONGER THAN EVER

AUSTIN’S HOUSING MARKET IS STRONGER THAN EVER

According to the latest Multiple Listing Service (MLS) report released by the Austin Board of REALTORS® (ABoR), the volume of Austin-area home sales was up 29 percent between May 2013 and May 2012.  That also marks two straight years of sales volume increases and the most home sales in May on record.   On average, homes spent 44 days on the market, which is a decrease of 19 days from one year prior.

Austin Real Estate May 2013 Statistics

• 2,991 – Single-family homes sold, 29 percent more than May 2012.

• $231,500 – Median price for single-family homes, eight percent more than May 2012.

• 44 – Average number of days single-family homes spent on the market, 19 days fewer than May 2012.

• 3,735 – New single-family home listings on the market, 11 percent more than May 2012.

• 5,735 – Active single-family home listings on the market, 24 percent fewer than May 2012.

• 2,857 – Pending sales for single-family homes, 10 percent more than May 2012.

• 2.7 – Months of inventory* of single-family homes, 1.7 months less than May 2012.

We've seen an increase in activity this year for both buyers and sellers across town.  Here’s a list of the fastest selling areas:

• Downtown Austin where median prices have increased 14 percent in the last year.
• Central Austin just north of West Campus.
• West Austin near MoPac which includes Tarrytown, Pemberton Heights and Clarksville  where median prices rose 16 percent in the last year.
• East Austin between MLK and Riverside where the median prices have increased 17 percent in the last year.

AUSTIN HOME SALES HIT 9-YEAR HIGH

AUSTIN HOME SALES HIT 9-YEAR HIGH

According to the Austin Board of REALTORS® latest MLS report, the volume of Austin-area home sales continues to rise. April marked the 23rd straight month of year-over-year sales volume increase and saw its most home sales since 2004.

According to the report, 2,563 single-family homes were sold in the Austin area in April 2013, which is 32 percent more than April 2012. On average, homes spent 50 days on the market, which is a decrease of 19 days from one year prior.

In April 2013, the median price for Austin-area homes increased eight percent more than the same month last year to $227,250. Additionally, the market featured 2.7 months of inventory in April 2013, which is 1.3 months less than April 2012.

Austin Real Estate April 2013 Statistics

• 2,563 – Single-family homes sold, 32 percent more than April 2012.

• $227,250 – Median price for single-family homes, eight percent more than April 2012.

• 50 – Average number of days single-family homes spent on the market, 19 days fewer than April 2012.

• 3,561 – New single-family home listings on the market, 10 percent more than April 2012.

• 5,488 – Active single-family home listings on the market, 25 percent fewer than April 2012.

• 2,976 – Pending sales for single-family homes, 20 percent more than April 2012.

• 2.7 – Months of inventory* of single-family homes, 1.3 months less than April 2012.

* The inventory of homes for a market is measured in months, which is defined as the number of active listings divided by the average sales per month of the prior 12 months.  The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

With summer finally here, it’s a great time to buy and sell real estate in the Austin area.   More than a hundred people are moving to Austin every day and once you are here, you will fall in love with our city! Contact TCP today to find out your Austin home’s current value in today’s market or to sign up for a FREE Austin buyer search of area homes sent directly to your email with daily alerts of new listings.