October Update - Austin Real Estate

Austin continues to see improvements in the housing market.  Sold listings are up nearly 40% in volume over last year.  Year to year comparisons on all months see gains over prior year.   With interest rates in the low 3% it is an incredible time to make that first purchase or make that move up.

Home Sales Continue to Show Increases in Austin Area

July 2012 Multiple Listing Service Data:

Units for Sale: (compared to July 2011)
New listings are up 9.67%.
Pendings are up 18.66%.
Solds increased by 24.35%

As for Average Prices:
The "New Listings" average list price is up 2.65% to $304,219.  In July 2011 the average list price was $296,359.

Sold average sales prices increased 7.58% to $276,822.  For July 2011 it was $257,322.

Did you know...that we had 10,720 active listings during the same week in 2011?  Today we have 8,941 active listings!  That is a 16.60% decrease from 2011.

MLS Monthly Review - May 2012

Preliminary May 2012 Data:

Units for Sale: (compared to May 2011)
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.

Preliminary MLS Data - April 2012

Preliminary April 2012 Data: 
Units for Sale: (compared to April 2011)

• New listings are up 1.86%.
• Pendings are up 27.40%.
• Solds increased by 5.76%

 As for Average Prices:

• The "New Listings" average list price is up 4.74% to $336,915.  In April 2011 the average list price was $321,670. 
• Sold average sales prices increased less than 1% to $270,952.  For April 2011 it was $270,571.  

Did you know...that we had 11,315 active listings during the same week in 2011?  Today there is 8,756 active listings!  That is a 22.62% decrease from 2011.

Preliminary MLS Data - March 2012

Units for Sale: (compared to March 2011)
New listings are down 7.90%.
Pendings are up 19.39%.
Solds increased by 16.46%

As for Average Prices:
The "New Listings" average list price is up 3.66% to $342,713.  In March 2011 the average list price was $330,627.

Sold average sales prices increased 6.14% to $258,863.  For March 2011 it was $243,878.

What does this mean?  We are seeing a steady number of buyers coming to the market, but listings are not coming on the market at the same pace as last year.  The homes that are ready to sell and price right are selling quick.

Real Estate: Week Review - Austin MLS

Units for Sale:
For March 4, 2012 - March 10, 2012 (compared to the same week in 2011)

New listings are down this week 1.35%.
Pendings are up this week 18.79%
Solds are up 39.53%

Average Prices  
For March 4, 2012 - March 10, 2012 (compared to the same week in 2011) 

Sold average sales prices increased 15.41% to $270,637.  In 2011 it was $234,508 for the same week.

December MLS Statistics - Austin Area Homes Sales Outpace Prior Year for 7 Straight Months

According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®, single-family home sales in December 2011 outpaced the same month of the prior year for the seventh straight month, and year-end figures show momentum in Austin real estate heading into 2012.

In December 2011, a total of 1,581 single-family homes were sold in Austin, which is 11 percent more than December 2010. During the same time period, the median price for Austin homes was $187,940, which is one percent less than the same month of the prior year.

In December 2011, the inventory of Austin-area homes decreased to 4.1 months, which is 1.4 months less than December 2010 and the lowest figure reported since the organization began tracking the statistic in January 2009.

2011 Year-End Totals

19,220 – Single-family homes sold, seven percent more than 2010.

$193,000 – Median price for single-family homes, unchanged from 2010.

84 – Average number of days that single-family homes spent on the market, seven days more than 2010.

30,668 – New single-family home listings on the market, 12 percent less than 2010.

8,609 – Active single-family home listings on the market, 15 percent less than 2010.

21,002 – Pending sales for single-family homes, seven percent more than 2010.

$4,931,910,843 – Total dollar volume of single-family properties sold, nine percent more than 2010.