Preliminary May 2012 Data:
New listings are up 4.32%.
Pendings are up 18.85%.
Solds increased by 18.98%
As for Average Prices:
The "New Listings" average list price is up 1.14% to $330,674. In May 2011 the average list price was $326,947.
Sold average sales prices increased 2.24% to $270,090. For May 2011 it was $264,169.
Did you know...that we had 11,454 active listings during the same week in 2011? Today there are 9,009 active listings! That is a 21.35% decrease from 2011.
What does this mean? Demand is slowing building. For some areas of Austin, sellers are having the benefit multiple buyers submitted offers to buy their property. This creates an auction effect, driving up the sales price of the home. We are seeing this more and more in the Austin area.
Do you have a questions about listing your home for sale or how to purchase a property? Please contact me.
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