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.

MLS Statistics - September 2011

The Austin area housing market continues to see improvements.   The latest MLS (Multiple Listing Service)statistics for September 2011 show that for all areas of ACTRIS (Austin Board of Realtors), the number of listings sold is up 19.9% from this time last year, total volume is up by 22.3%.    The average sales price, $241,609 is up by 2.0%, when comparing September 2011 to 2010.  That is great news for home owners and should be a wake up for home buyers sitting on the sideline waiting for things to bottom out.  

These statistics will change depending on the area you live in.  Area CLS (78613- Cedar Park) is experiencing median sales price increase of 7.3% ($227,567), however volume is basically the same when comparing 2011 to 2010.

The takeaway.  With the continuation of job growth in Texas, we are see that growth impact the real estate market by increasing volume and sales.  New residents are consistently moving to the area.  With record low mortgage rates, it may be a great time to make that move up to your next home or purchasing your first.