It’s the holiday season! It’s a time when families get to spend quality time together, eat good food, and be merry. It’s been a great year here in Austin. Our city’s population and job growth shows no signs of slowing down, so 2014 should be another competitive year for Austin real estate.
ABoR recently released its Multiple Listing Service (MLS) report and housing market statistics, which reflect a historically hot market! First of all, we saw Austin-area home sales hit a seven-year high in November! This increase puts November as the 30th straight month of sales volume increases, which dates back to May of 2011.
In November there were 1,899 single-family homes that sold in the area, which is 14% more than November 2012. The median price for Austin-area homes was $219,530, which is 10% more than the same month last year. In November, inventory remained at a historically low level of 2.3 months, which is more than half of a month less than November 2012. Additionally, homes spent an average of 51 days on the market, which is a decrease of 16 days from one-year prior. Finally, the number of active single-family homes on the market was 5,119, which is 11% fewer homes for sale than November 2012.
View our market update video below!