April marks the 23rd straight month of year-over-year sales volume increases in Austin, TX. Additionally, the average sales price for single-family homes rose from $269,000 in 2012 to $309,855 in 2013. This marks the first time the average sales price has risen above $300,000 – ever. The area saw it’s most home sales in April since 2004, according to the Multiple Listing Service (MLS) report released by the Austin Board of Realtors.
The report stated that 2,563 single-family homes were sold in April 2013, a good 32% more than April 2012. Homes spent
an average of 50 days on the market, which is 19 days less than last year.
What does this mean for buyers? You will need to move quickly if you want to secure your ideal property. It is a good idea to have exactly what you want in a home (features, amenities, etc.) picked out before starting the process, so that when you view a home, you know right away if it’s the one for you.
The total dollar volume of single family homes sold in April was $794,158,365, which is 52 percent higher; while the market also featured 10 percent more new listings than this time last year. Additionally, the median price for Austin-area homes increased by eight percent year-over-year, and the market featured 2.7 months of inventory in April 2013 (1.3 months less than April 2012.)
If you’re searching for houses for sale in high-demand areas of Austin such as Roundrock, Lakeway, Southwest Austin, or Westlake, it’s imperative that you employ an experienced real estate expert to assist you. If you’d like to search properties in Austin, you can run a detailed search on our website.
Welcome! I'm coming to you from our local Austin office. I'm Seth Thompson, our sales director for HomeCity Real Estate. I have a few things to share with you: a market update for June 2013.
Austin-area sales have continued to increase as April became the 23rd straight month of year-over-year sales volume rise.
Austin area homes sales has also hit a 9-year high for April with over 2,500 homes sold, the highest since 2004. That's a 32% increase over last April.
Our average ‘days on the market’ is now 50 days which is 19 days fewer than this time last year.
The median price for Austin area homes increased 8% to $227,000, where the average sales price is at $306,000. That marks the first time that Austin's average home prize has surpassed the $300,000 mark.
We are in a shortage of homes here in Austin. We have about 3 months inventory through the whole Austin metro where a balanced market is considered 6 1/2 months. So you can see we are in the midst of a seller's market. So what does that means to you? Well, we're seeing homes sell very quickly. We are seeing prices increase. We are seeing properties sell within a matter of weeks, days, even a few hours. We are seeing properties with multiple offers in all parts of Austin, even including the outskirts like Round Rock, even Kyle.
If you are out there looking for a house there's some neighborhoods right now that are selling within hours. Neighborhoods such as Circle C Ranch in southwest Austin, Avery Ranch up in northwest Austin, even areas in Round Rock. So you can see it is very important to have the aid of a realtor to help you secure that property in a fast moving market.
Please visit us at www.homecity.com where our website updates throughout the day to ensure that you are looking at an accurate list of homes for sale, very important in today's hot market. We're always here to help. Thank you.