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Austin-area home sales rise 14 percent, hit seven-year high

Austin-area home sales rise 14 percent, hit seven-year high for November

AUSTIN, Texas - In the report just released today, by the Austin Board of REALTORS (ABoR), According to the (MLS) report the volume of home sales continues to rise as November became the 30th straight month of sales volume increases and the most home sales in November since 2006!

According to the report, 1,899 single-family homes were sold in the Austin area, which is 14 percent more than November 2012. The median price for Austin-area homes was $219,530, which is 10 percent more than the same month in 2012.

With strong activity across all segments of the market, the Austin-area housing market has been full steam ahead through the holidays and the rest of the year, Our city’s population and job growth show no signs of slowing down, so 2014 will likely be another competitive year for Austin real estate.

In November 2013, 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. The total dollar volume of single-family properties sold was $555,757,542 or 24 percent higher than the same month last year. The market also featured the same amount of new listings, 11 percent fewer active listings and two percent more pending sales in November 2013 compared to the prior year. November 2013 Statistics
    • 1,899 – Single-family homes sold, 14 percent more than November 2012.
 
    • $219,530 – Median price for single-family homes, 10 percent more than November 2012.
 
    • 51 – Average number of days single-family homes spent on the market, 16 days fewer than November 2012.
 
    • 1,967 – New single-family home listings on the market, statistically unchanged from November 2012.
 
    • 5,119 – Active single-family home listings on the market, 11 percent fewer than November 2012.
 
    • 1,756 – Pending sales for single-family homes, two percent more than November 2012.
 
    • 2.3 – Months of inventory* of single-family homes, more than half of a month less than November 2012.
 
  • $555,757,542 – Total dollar volume of single-family properties sold, 24 percent more than November 2012.
The following sections describe trends in other sectors of the Austin real estate market. Townhouses & Condominiums The number of townhouses and condominiums (condos) purchased in the Austin area in November 2013 was 223, which is 35 percent more than November 2012. In the same time period, the median price for condos was $195,200, which is eight percent more than the same month of the prior year. When compared to November 2012, these properties spent an average of 55 days on the market, or 38 percent less time. Leasing In November 2013, a total of 1,162 properties were leased in Austin, which is six percent more than November 2012. The median price for Austin-area leases was $1,390, which is seven percent more than the same month of the prior year. Austin's leasing market continues to be extremely robust with currently occupancy rates bouncing between 93%-96% area wide. "It's a great time to be thinking of investing in Austin Real Estate", explains Gary Dolch, Principal of Austin Luxury Group.   Austin Luxury Group, is a division of Dolch Properties, Inc and is affiliated with Capital City Sotheby's International Realty (Broker). Austin Luxury Group (ALG) operates in the Austin, Texas and Central Texas markets and focus's primarily on Buyers, Sellers and investors  of luxury residential real estate ($1M+) and Class A commercial real estate ($1+) and prime development projects under Dolch Development in and around central Texas. Gary Dolch is the co-founder and principal.  

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