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.