The weather is cooling down, and the time change is coming up… but the Austin housing market continues to stay unaffected by the changing seasons. The September 2013 housing market statistics released by the Austin Board of Realtors (ABoR) show consistent improvement year over year in the market, including an increase in single-family home sales.
Austin’s year over year housing market inventory fell to 2.7 months in September, which is 1 month less than this time last year. There were 2,391 single-family homes sold, which, is 34% more than 2012. This marks the highest sales volume since 2005! It’s a good time to be a Realtor!
In this extremely competitive market, on average homes spent only 44 days on the market, which is down 22 days from 2012. As people continue to move to Austin, the competition for housing continues to grow. People looking to buy a home in Austin are having to act quickly if they want to secure the home of their dreams, and sellers continue to enjoy the sellers market.
The shortage of housing is also meaning a higher median price for homes in Austin, which was $223,000 in September. This is 13% more than September 2012. Interestingly enough, there were a total of 5,965 active single family homes on the market this September, which is down 12% from last year, even though there were 17% more new listings. In the end, the Austin Board of Realtors were able to show a dollar volume of single-family home sales of $668,347,382, which was a 47% increase over the September 2012 volume.
While this is a wonderful view of Austin’s housing market overall, feel free to contact one of our Real Estate Experts to receive more in-depth information about the community or neighborhood you are interested in.