Austin-area home sales up 32 percent, hit nine-year high for April

AUSTIN, Texas – May 21, 2013 – According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS® (ABoR), the volume of Austin-area home sales continues to rise as April became the 23rd straight month of year-over-year sales volume increases, and April 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.

Cathy Coneway, 2013 Chairman of the Austin Board of REALTORS­®, explained, “On average, Austin-area homes are now selling in only six weeks. Buyers should think hard about the type of home, features and amenities they’re looking for and then be prepared to move quickly once they find a home that fits that description.”

The total dollar volume of single-family properties sold was $794,158,365, or 52 percent higher. The market also featured 10 percent more new listings, 25 percent fewer active listings and 20 percent more pending sales in April 2013 compared to the prior year.

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.

“It’s good to see a 10 percent increase in new home listings,” Coneway adds. “As Austin-area home sales continue to increase and the time homes spend on the market continues to shorten, it is integral that our housing supply also increases to meet this surging demand.” 

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.
• $794,158,365 – Total dollar volume of single-family properties sold, 52 percent more than April 2012.

The following sections describe trends in other sectors of the Austin real estate market.

Townhouses & Condominiums
The volume of townhouses and condominiums (condos) purchased in the Austin area in April 2013 was 251, which is 31 percent more than April 2012. In the same time period, the median price for condos was $201,250, which is 17 percent more than the same month of the prior year. When compared to April 2012, these properties spent 47 percent less time on the market, or an average of 41 days.

Courtesy of the Austin Board of Realtors

How to be the Most Attractive Homebuyer

Inventory is low in the Austin area and homebuyers need to be aware that they could have to compete for the property that they want.

Read this article for advice on how to make your offers competitive.

---

 

The spring season tends to flood the housing market with buyers, and in markets with low inventory levels, the competition is stiff.

As home prices continue to recover and interest rates remain at near-record lows, some houses are receiving multiple offers and to win the bid, buyers need to stand out from the crowd. According to the National Association of Realtors, houses sold in 71 days in January, down from 99 days a year ago.

Continue…

Courtesy of Fox Business.

Austin Area Market Statistics

March 2013 Statistics

• 2,166 – Single-family homes sold, 16 percent more than March 2012.
• $220,000 – Median price for single-family homes, 10 percent more than March 2012.
• 64 – Average number of days single-family homes spent on the market, 20 days fewer than March 2012.
• 3,283 – New single-family home listings on the market, two percent fewer than March 2012.
• 5,218 – Active single-family home listings on the market, 28 percent fewer than March 2012.
• 2,754 – Pending sales for single-family homes, 18 percent more than March 2012.
• 2.6 – Months of inventory* of single-family homes, 1.8 months less than March 2012.
• $616,354,794 – Total dollar volume of single-family properties sold, 28 percent more than March 2012.

The following sections describe trends in other sectors of the Austin real estate market.

Townhouses & Condominiums
The volume of townhouses and condominiums (condos) purchased in the Austin area in March 2013 was 275, which is 27 percent more than March 2012. In the same time period, the median price for condos was $181,750, which is three percent less than the same month of the prior year. When compared to March 2012, these properties spent one percent less time on the market, or an average of 87 days.

Courtesy of Austin Board of Realtors.

Austin Area Market Statistics Feb 2013

AUSTIN, Texas – March 20, 2013 – The Austin real estate market continued to gain steam in February, according to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS® (ABoR). As cited in the report, the volume of home sales in Austin outpaced last year significantly and the price for Austin-area homes continued to rise.
According to the report, 1,626 single-family homes were sold in the Austin area in February 2013, which is 26 percent more than February 2012, and the total dollar volume of single-family properties sold was $430,324,152, or 32 percent higher than the same month last year.

February 2013 Statistics

• 1,626 – Single-family homes sold, 26 percent more than February 2012.
• $208,500 – Median price for single-family homes, seven percent more than February 2012.
• 71 – Average number of days single-family homes spent on the market, 15 days fewer than February 2012.
• 2,574 – New single-family home listings on the market, one percent more than February 2012.
• 5,121 – Active single-family home listings on the market, 25 percent fewer than February 2012.
• 2,223 – Pending sales for single-family homes, 15 percent more than February 2012.
• 2.6 – Months of inventory* of single-family homes, 1.6 months less than February 2012.
• $430,324,152 – Total dollar volume of single-family properties sold, 32 percent more than February 2012.
  Townhouses & Condominiums
  The volume of townhouses and condominiums (condos) purchased in the Austin area in February 2013 was 169, which is 31 percent more than February 2012. In the same time period, the median price for condos was $187,000, which is nine percent more than the same month of the prior year. When compared to February 2012, these properties spent 27 percent less time on the market, or an average of 67 days.

Courtesy of the Austin Board of Realtors

Five Tips For Spring Cleaning

Click on the image for some advice on how to get your home for buyers.