Home Prices Rise, Days on Market Fall for Houses in North Austin Suburbs

The Austin housing market continues to improve with home prices rising once again in most local areas while median days on market continue to decline overall. With a lack of inventory, year-to-date and monthly total unit sales have dropped in several areas, but not for a lack of buyers. Every day we see home buyers fighting in multiple offer situations to get their dream home because the number of available homes for sale is so low.

Based on statistics released by the Austin Board of REALTORS®, we saw a continued trend towards a stronger seller’s market in some of the more popular Austin suburbs. The following data covers Round Rock, Pflugerville, Georgetown and Hutto. If you’re interested in updates on additional local areas, let us know and we’ll be happy to create a report for you.

In March 2014, the total number of homes in east Georgetown rose 58.6% due to an increase in activity while home sales in west Round Rock decreased 8% and Pflugerville home sales decreased 4.8% year-over-year because fewer homes are actively listed than this time last year. Year-to-date numbers follow a similar trend with east Georgetown making huge strides in home sales while west Round Rock is seeing fewer sales so far in 2014 than last year.

Median sales prices have increased in all the suburbs we’ve looked at with Georgetown overall seeing the highest year-over-year growth with a 39.9% spike in price on the east side and 25.7% spike on the west side while east Round Rock has only saw a minor spike in median home prices of 1.2% in March. This smaller spike can be best explained by the size of homes being put up for sale. The homes sold in east Round Rock during the month of March were, on average, over 100 square feet smaller than the same time period last year. Though the area saw a smaller gain in total median price, the total median price per square foot rose a more moderate 7.8% to $98 per square foot compared to $91 in 2013.

On the other hand, east Georgetown homes sold in March averaged over 300 square feet more than last year, providing some context to the large spike in prices. With that said, median price per square foot still rose 17.9% to $105 per square foot compared to $89 in 2013. The different in size was even more drastic on the west side of Georgetown with homes averaging over 400 square feet more in March 2014 than the same month last year. Median price per square foot rose 10.9% to $133.

The other areas studied, including west Round Rock, Pflugerville and Hutto, all saw moderate median price increases from 3.4% to 9.8% and median price per square foot increases ranging from 10.2% to 16.8%. These numbers support strong growth in the market and continue a trend expected to go even further during the hot buyer months of the summer.

One other interesting fact about the current market is how quickly homes are selling. All of Round Rock as well as Pflugerville, Hutto and east Georgetown is seeing homes go under contract within a month of listing. In some areas such as Pflugerville and west Round Rock, homes are on the market for just over a week before going under contract with the median for both those areas being just 8 days on market. These are year-over-year decreases ranging from 14.3% to 66.7%. It doesn’t seem like homes could sell any more quickly and yet it seems like they do with each passing day.

The one exception is west Georgetown. Considering homes in this area go for a higher price, the buyer pool is smaller and the median days on market is nearly two months at 58 days. This is more than double the time it took for a house to go under contract in the area in March 2013, but as previously stated that area is seeing larger homes being listed for much higher prices.

Overall the numbers are showing what we’ve been seeing on the front lines: homes are selling faster while prices slowly edge up as we head towards the peak buying season. This is especially true for destination neighborhoods where the inventory is very slim and the buyer demand is high. These are trends that we can expect to continue in the near future, especially if inventory continues to stay low and the number of people relocating to the area continues to grow.

If there is an area you’re specifically interested in that we haven’t covered, let us know in the comments and we’ll dive in deeper for you.

Austin Area Home Sales Increase 34 Percent in September

The Austin area housing market continued to dominate in September, according to a report published by the Austin Board of REALTORS® yesterday. Once again the local market saw home sales rise, hitting numbers that haven’t been seen in the month of September since 2005. In total, 2,391 single-family homes sold in the Austin area last month, an increase of 34 percent compared to September 2012.

Cathy Coneway, 2013 President of the Austin Board of REALTORS® said, “With such explosive growth in the Austin housing market, we have to plan for our community’s future needs. Proposition 1’s funding of affordable housing in Austin and Proposition 6’s funding of the state water plan are critical to maintaining the success of Austin’s housing market and our economy.”

Even though September is usually the start of the off-season, homes are still flying off the market with sold homes selling after an average of 44 days on market, 22 days less than the same time period in 2012. Inventory remains low at 2.7 months, which is 1 month less compared to last year despite an increase of 17 percent in the number of new listings coming to market.

Median home price also continued to creep up, hitting $223,000 in the Austin area, and total dollars sold rose 47 percent compared to September 2012 to $688,347,381. No wonder we’re so busy!

Graphic courtesy of the Austin Board of REALTORS®

September 2013 Statistics

• 2,391 – Single-family homes sold, 34 percent more than September 2012.
• $223,000 – Median price for single-family homes, 13 percent more than September 2012.
• 44 – Average number of days single-family homes spent on the market, 22 days fewer than September 2012.
• 2,487– New single-family home listings on the market, 17 percent more than September 2012.
• 5,965 – Active single-family home listings on the market, 12 percent fewer than September 2012.
• 1,978 – Pending sales for single-family homes, six percent more than September 2012.
• 2.7 – Months of inventory* of single-family homes, 1 month less than September 2012.
• $688,347,381 – Total dollar volume of single-family properties sold, 47 percent more than September 2012.

While it may no longer be the “busy season”, the number of buyers out there looking for a home is not shrinking much. Homes in many areas are still going under contract within days of listing and multiple offer situations are still very common, especially in the traditional starter-home bracket of homes. If you’re considering selling your home, now is still a great time to get on the market as more and more buyers start looking for their next home in order to take advantage of low interest rates before they go up more.

We have already closed on over 10 homes so far in October and have many others on the books set to close before the end of the month. Expect October numbers to continue reflecting this year-over-year growth as move up buyers reenter the market and relocating families continue to flood the area. If you’re interested in selling, call us at 512.703.7933 to learn more about the strategies that allow us to sell homes quickly and net our sellers the most money. If you’re interested in buying, selling or investing in real estate, our team is here to serve you!

Source: Austin Board of REALTORS®

Austin Home Sales Hit Highest Performing Month in July

The growth seen over the last year in the local housing market continued in July with the Austin housing market experiencing its highest performing month to date in number of home sales, according to the Multiple Listing Service (MLS) report released by the Austin Board of REALTORS® last week. In July alone, 3,135 single-family homes sold in the Austin area, a 35 percent increased from July 2012 and almost 400 more than in June of this year.

Cathy Coneway, 2013 Chairman of the Austin Board of REALTORS­®, explained, “The record number of sales in July can be traced back to Austin’s job growth and strong economy. The expected rise in mortgage rates may have also encouraged buyers to act now. As home builder’s work to meet demand we can expect home prices to steadily increase, which could price many out of the area.”

Homes spent an average of 41 days on the market, a decrease of 23 days from the same period in 2012. With the decrease in inventory and the increase in sales, it’s no surprise that the median price for Austin area homes rose to $228,250, eight percent more than July 2012 though slightly less than June. Inventory decreased to 2.8 months, way below the 6 months needed for a balanced market and 1.5 months less than last July. Even with the number of new single-family home listings increasing, the current lack of inventory is leading to homes going under contract faster and inventory remaining very low.

Coneway concluded, “The housing affordability bond package, up for vote in November, is a key component to maintaining a healthy housing supply and ensuring future economic growth for Austin. Our community is at its strongest when there is a steady supply of affordable housing for everyone who calls Austin home.”

July 2013 Statistics:

• 3,135 – Single-family homes sold, 35 percent more than July 2012.
• $228,250 – Median price for single-family homes, eight percent more than July 2012.
• 41 – Average number of days single-family homes spent on the market, 23 days fewer than July 2012.
• 3,523 – New single-family home listings on the market, 22 percent more than July 2012.
• 6,104 – Active single-family home listings on the market, 20 percent fewer than July 2012.
• 2,773 – Pending sales for single-family homes, 20 percent more than July 2012.
• 2.8 – Months of inventory* of single-family homes, 1.5 months less than July 2012.
• $933,242,475 – Total dollar volume of single-family properties sold, 43 percent more than July 2012.

Source: Austin Board of REALTORS®

Home sales continue to increase year-to-year though with school starting up again, the fall months will probably see a month-to-month decrease. With mortgage rates going up along with home prices, the buyer pool decreases as potential home owners get priced out of the market, but that shouldn’t stop homes from moving in most areas during the fall. Neighborhoods like Teravista that have a large amount of inventory will feel the slowdown first, but homes that are priced right and marketed correctly will continue to attract buyers. We continue to sell homes quickly and often for the highest prices in a given area.

We predict that single-family home sales in the Austin area will continue to remain strong through the rest of the year as more people relocate to the area and companies increase their presence in Austin. If you’re thinking of buying, now is the time before mortgage interest rates climb any hire. Let our buyer specialists maximize your buying power.

If you’re interested in learning more about selling your home or buying a home, please call Robert at 512.791.0229, email us at Robert@RobertJFischer.com or use the contact form below.

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Austin Single-Family Housing Sales Continue to Rise as Inventory Remains Low

Earlier this week the Austin Board of REALTORS® announced June housing data for Austin-area home sales, which showed the local housing inventory sitting at 2.9 months. This is 1.5 months lower than in June 2012 despite an 8 percent increase in new listings and far below the 6 months needed for a balanced market. Overall June saw 22 percent fewer active listings and 16 percent more pending listings than in June 2013, leading to the drastic decrease in housing supply. Homes are averaging 43 days on the market, a 16 day decrease from the year before.

Cathy Coneway, 2013 Chairman of the Austin Board of REALTORS®, explained, “While the Austin-area real estate market is strong, Austin’s housing inventory has reached a critical level. If the cost of development in the area does not decrease, Austin residents will not have enough housing options and availability necessary to meet growing demand.”

Along with June statistics, ABOR also announced mid-year numbers, showing the increased strength of single-family home sales in Austin. Statistics show a 19 percent increase in home sales in the first half of 2013 and 25 percent fewer days on the market compared to the first six months of 2012. Mid-year results for active and pending listings were similar to June results, showing 25 percent fewer active listings and 17 percent more pending sales than in the first half of 2012.

The median price of local homes rose to $235,000, eight percent more than this time last year and slightly more than in May of this year. The median price for all local Austin-area home sales in the first six months hit $224,000, nine percent higher than the same time period in 2012. In June 2,767 total homes were sold in our area, eight percent more than in June 2012 and more than 200 more than the month prior.

Coneway said, “While it seems like home sales slowed in June compared to earlier in the year, this month marks the highest level of home sales for June in the last six years. That combined with the fast pace of home sales in the area means buyers will greatly benefit from using a REALTOR® who has access to the most up-to-date information in the MLS, and sellers will gain maximum exposure for their listing with it in the MLS.”

June 2013 Statistics

• 2,767 – Single-family homes sold, eight percent more than June 2012.
• $235,000 – Median price for single-family homes, eight percent more than June 2012.
• 43 – Average number of days single-family homes spent on the market, 16 days fewer than June 2012.
• 3,613 – New single-family home listings on the market, eight percent more than June 2012.
• 6,046 – Active single-family home listings on the market, 22 percent fewer than June 2012.
• 2,812 – Pending sales for single-family homes, 16 percent more than June 2012.
• 2.9 – Months of inventory* of single-family homes, 1.5 months less than June 2012.
• $841,090,524 – Total dollar volume of single-family properties sold, 15 percent more than June 2012.

2013 Statistics Mid-Year Statistics

• 13,159 – Single-family homes sold, 19 percent more than the first half of 2012.
• $224,000– Median price for single-family homes, nine percent more than the first half of 2012.
• 19,018 – New single-family home listings on the market, five percent more than the first half of 2012.
• 5,426 – Active single-family home listings on the market, 25 percent fewer than the first half of 2012.
• 15,667 – Pending sales for single-family homes, 17 percent more than the first half of 2012.
• $3,838,604,341 – Total dollar volume of single-family properties sold, 31 percent more than the first half of 2012.

With the current rate homes are flying off the market, it’s no surprise that the total dollar volume of homes sold in the first six months of 2013 already account for 62 percent of total dollar volume for all home sales in 2012. Add in that the median price for Austin-area leases have increased to a median price of $1,450, and more people are out there shopping for homes. The recent slight increase in mortgage interest rates have pushed a lot of people off the fence who were waiting for the market to “bottom out”. Inventory continues to decline while available buyers increase. If you’re thinking of selling, take advantage of this seller’s market and if you’re thinking of buying, let our agents get you the best deal possible for your ideal home. If you’re considering buying, selling or investing in Austin-area real estate, give Robert a call at 512.791.0229 or email him at Robert@RobertJFischer.com to learn how we can best assist you as a seller or buyer in this exciting time in real estate. You can also contact us through the form below.

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Austin Area Home Sales Increase 32 Percent in April, Inventory Remains Tight

Last week the Austin Board of REALTORS® announced that the volume of Austin-area home sales increased for the 23^rd straight month with April seeing the most home sales since 2004. Based on data from the Multiple Listing Service (MLS), 2,563 single-family homes were sold in the Austin area during April 2013, a 32 percent increase than April 2012. As we ramp up into the hot buyer season with school ending in most districts in the next few days, this trend of increases sales should continue to grow throughout the summer.

The median sales price for a single-family home in the Austin area grew eight percent year-over-year to $227,250. Homes are also going under contract in an average of 50 days, 19 days fewer than April 2012 and 14 days fewer than just the previous month.

Cathy Coneway, 2013 Chairman of the Austin Board of REALTORS­®, explained, “On average, Austin-area homes are now selling in only six weeks. Buyers should think hard about the type of home, features and amenities they’re looking for and then be prepared to move quickly once they find a home that fits that description.”

Inventory of homes increased slightly month-to-month with April inventory expected to last 2.7 months, but that’s still 1.3 months less than April 2012 and still far below the standard 6 months considered for a balanced market. While the 3,561 new single-family home listings added to the market in April may have been a 10 percent increase to the same month in 2012, it still can’t satisfy overall demand. Pending sales also rose 20 percent to 2,976 single-family homes under contract. Overall the market saw 25 percent fewer active listings than in April 2012.

Going into April, there were 2 percent fewer new listings and 28 percent fewer active listings. The lack of inventory doesn’t seem to be changing any time soon, which could make for an interesting summer as more buyers get out there to find a home before school goes back to session in August.

“It’s good to see a 10 percent increase in new home listings,” Coneway adds. “As Austin-area home sales continue to increase and the time homes spend on the market continues to shorten, it is integral that our housing supply also increases to meet this surging demand.”

April 2013 Statistics

• 2,563 – Single-family homes sold, 32 percent more than April 2012.
• $227,250 – Median price for single-family homes, eight percent more than April 2012.
• 50 – Average number of days single-family homes spent on the market, 19 days fewer than April 2012.
• 3,561 – New single-family home listings on the market, 10 percent more than April 2012.
• 5,488 – Active single-family home listings on the market, 25 percent fewer than April 2012.
• 2,976 – Pending sales for single-family homes, 20 percent more than April 2012.
• 2.7 – Months of inventory* of single-family homes, 1.3 months less than April 2012.
• $794,158,365 – Total dollar volume of single-family properties sold, 52 percent more than April 2012.

With the end of another school year just around the corner, more buyers are going to be coming out to find a home to settle into before school starts back up in August and September. We are expecting a huge summer of multiple offer situations and high demand, especially for so-called “starter homes” under $150K. Those homes have been flying off the market with offers coming into our office within hours of listing. Even if your home is priced above $150K, there are definitely buyers out there in every price range. Let us help you sell your home quickly and for the most money by making sure its priced right, staged well, looks fantastic online and is marketed correctly. If you’re thinking of diving into the current crazy real estate market, give Robert a call at 512.791.0229 to learn how we can best assist you as a seller or buyer in this exciting time in real estate.

6 Recent Homes Sold in Round Rock, Pflugerville & Hutto by the Robert J Fischer Team

Lately this blog has full of new home listings, but Robert isn’t just listing homes, he’s closing them too! Over the last month, Robert has closed on over a dozen homes, most of them going under contract in under a week, receiving multiple offers or both. Things aren’t slowing down any time soon either with our team having 20 other homes already pending and new homes entering the market on nearly a daily basis. Here are just a few of Robert’s recent wins!

Round Rock Home in Ryans Crossing on Sandy Koufax Sold in 0 Days!

This home sold before we ever made it inside to take pictures! With so many buyers looking for homes under the $200K price range, homes like this one on Sandy Koufax are in high demand and having an agent keeping an eye on coming soon properties is a must have. If you’ve been looking for a home with no luck, call Robert at 512.791.0229 and we can add you to our list of buyers looking for their next home, so you’ll learn about our listings and other agents’ coming soons before they become available to the public.

Pflugerville Home in Settlers Ridge on Campfire Trail Sold in 2 Days!

This beautiful home in Pflugerville started receiving offers soon after being listed and it wasn’t long before Robert had it under contract. This 4 bedroom home had a new roof, island kitchen and tons of living space for a busy family to enjoy.

Cedar Park Home in Carriage Hill on Bridal Path Sold in 3 Days!

Cedar Park is showing a lot of movement as the city grows. We’re seeing homes in that area going quickly, including this home in Carriage Hills. It didn’t hurt that the home was beautiful with wood-type flooring throughout and mature landscaping outside on the large corner lot. If you’re interesting in moving to Cedar Park or want to sell in the area, call Robert at 512.791.0229 to learn more about how we can help you.

Round Rock in High Country on Winding Way Sold in 4 Days!

This home received multiple offers within the first 48 hours of being on the market. It’s easy to see why – large bedrooms, great curb appeal, and located in an area convenient to Toll Road 45 as well as all the conveniences of east Round Rock.

Round Rock Home in Huntington Trails on Meadowild Sold in 4 Days!

This home in Huntington Trails sat on a half acre lot and had tons of upgrades, making it a beautiful investment for the lucky buyers. The mature, well-maintained landscaping, work shed and interior enhancements made this a wonderful home and a popular home for showings in the short time it was on the market.

Hutto Home in Creekside Estates on Meadowside Drive Sold in 6 Days!

This is another home that had multiple offers in within 48 hours of hitting the market. The sellers had completely updated the flooring, adding 18″ tile and new carpet throughout weeks before listing as well as painting and updating lighting fixtures. Everyone looking for an affordable starter home wanted to get into this one.

Our team continues to sell homes quickly and efficiently. If you’d like to know more about our current listing or about the marketing strategy that gets homes sold fast, please call or text Robert at 512.791.0229 or email us at Robert@RobertJFischer.com.

Austin Tops Economic Health Index, Texas Economy Grows With National Homeownership Declines

Hey Everyone, here are 4 brief real estate articles and several virtual open house tours I thought would be of interest to you.

As we head into the busy selling season of summer, the local Austin/Round Rock market still has low inventory and high demand. Local job growth and an increase in companies relocating to Austin are bringing more and more buyers to our town every day. Multiple offers are becoming the norm, especially for traditional “starter homes”, and many buyers have been searching for months with no luck in finding their next home. If you’re considering selling your home or know someone who is, call me at 512.791.0229 to learn more about how hot your area of town currently is.

This month’s articles include:

·    Austin Tops Economic Health Index for Third Straight Month (Austin)
·    Texas Job Growth Twice That of U.S. (Texas)
·    Texas Existing Home Sales Up 17.5 Percent (Texas)
·    Census Bureau: American Homeownership Down (National)
·    Buyer Needs
·    Virtual Open House Tours

More real estate news, market data and information can also be found on our website, blog, Twitter, and Facebook page. My blog is regularly updated with local and national real estate news as well as our new listings. Twitter users are invited to follow us at @RJFischerTeam. Facebook users are invited to connect to our Facebook page titled Robert J Fischer Team, Realtor Serving Austin/Round Rock Areas.YouTube users are invited to subscribe to our YouTube channel Robert J Fischer Team.

 

AUSTIN TOPS ECONOMIC HEALTH INDEX FOR THIRD STRAIGHT MONTH

Austin (Austin Business Journal) – Austin remains the top-rated metropolitan area in the On Numbers Economic Index for April, which means it has the strongest local economy in the United States.

The Capital City is followed once again by No. 2 Provo, Utah in the Business Journals’ latest analysis that measures the economic health of major metropolitan areas.

Texas dominated the top five spots. Dallas-Fort Worth took No. 3, followed by Houston and Oklahoma City.

Austin has held first place since February, thanks to its broad-based record of economic strength:

• The number of private-sector jobs in the Austin area has expanded by 10.1 percent during the past five years. That dwarfs the second-fastest growth rate in the nation, Houston’s 7.3 percent.
• Austin’s unemployment rate of 5.4 percent is the sixth-lowest in any major metro.
• The retail sector is booming in Austin, where retail employment has shot up by 9.2 percent since 2008. That’s the biggest increase anywhere in the country.
• Austin’s home prices have risen by 4.7 percent in half a decade. Just nine other markets have enjoyed increases in home values during that period, while 92 have suffered declines.

The economic health index is calculated by an 18-part formula that assesses private-sector job growth, unemployment, earnings, housing-price appreciation, and construction and retail activity for all 102 metropolitan areas with populations of more than 500,000.

To learn more about our local economy and its effects on the housing market, please contact Robert at 512.791.0229 or email him at Robert@RobertJFischer.com.

Austin Area Home Sales Rise 16 Percent in March 2013

Austin-area home sales rose for the 22^nd straight month with an increase of 16 percent in sales volume compared to March 2012. According to a report released by the Austin Board of REALTORS®, the 2,166 homes sold in the 31 days of March was the largest volume of home sales in the Austin area since 2007. This continuing growth in homes sale volume does not look to be ending anytime soon either with another 18 percent increase in homes pending sale at the end of March.

The average home was only listed for 64 days before going under contract, 20 days fewer than during the same period last year. Prices have also increased as the lack of inventory has more buyers contending for fewer homes. The median home price for Austin-area homes increased to $220,000, a 10 percent increase from 2012 and $11,500 more than just the month before. Inventory sat steady at 2.6 months, which is 1.8 months less than March 2012 but equal to February 2013.

Cathy Coneway, 2013 Chairman of the Austin Board of REALTORS­®, explained, “Austin-area homes are spending almost a third less time on the market compared to March 2012, while the volume of home sales outpaced last year significantly. It’s no longer uncommon for sellers to receive multiple offers on a home within days of listing.”

Going into April, there were 2 percent fewer new listings and 28 percent fewer active listings. The lack of inventory doesn’t seem to be changing any time soon, which could make for an interesting summer as more buyers get out there to find a home before school goes back to session in August.

“Austin’s housing inventory continues to be one of the lowest in Texas,” Coneway adds. “Buyers should prepare to act fast on a home they want and to possibly offer over list price as 97.4 percent of homes are selling to list price.”

March 2013 Statistics

Source: Austin Board of Realtors

• 2,166 – Single-family homes sold, 16 percent more than March 2012.
• $220,000 – Median price for single-family homes, 10 percent more than March 2012.
• 64 – Average number of days single-family homes spent on the market, 20 days fewer than March 2012.
• 3,283 – New single-family home listings on the market, two percent fewer than March 2012.
• 5,218 – Active single-family home listings on the market, 28 percent fewer than March 2012.
• 2,754 – Pending sales for single-family homes, 18 percent more than March 2012.
• 2.6 – Months of inventory* of single-family homes, 1.8 months less than March 2012.
• $616,354,794 – Total dollar volume of single-family properties sold, 28 percent more than March 2012.

We still haven’t hit the traditional “hot season” for real estate, which generally begins in May and runs through the summer, so the outlook for the upcoming months are huge. Inventory continues to remain low in most in-demand neighborhoods and homes are going under contract after only a few days on market. Many homes that are priced right, staged well, and marketed correctly are getting multiple offers in the first 24 hours! This is an exciting time to work in real estate, but it’s definitely stressful for both buyers and sellers. If you’re thinking of diving into the current real estate climate, give me a call at 512.791.0229. My team and I would love to assist in guiding you during this exciting and fast-paced time in Austin-area home sales.

Hot & Rebounding Real Estate Markets – Austin Top Long-Term Housing Market in the Country

Our friends at the Internet Marketing Specialist Designation team shared this graphic on Facebook yesterday, showing the country’s hottest real estate markets and where home prices are rebounding fastest. We’re not surprised to find Austin towards the top of both lists!

If you’re thinking about selling or need help finding the perfect home to buy, call Robert at 512.791.0229 to learn more about how our team can fulfill all your real estate needs in this new rebounding market.

Austin Area Home Sales Continue To Show Strength in February

Austin home sales grew even further in February 2013, proving that our local housing market continues to strengthen as we head towards the hot buying season. According to a report released by the Austin Board of REALTORS®, total home sales outpaced the same time period in 2012, growing 26 percent in year-to-year comparison. A total of 1,626 homes sold in the shortened month of February, hinting that this year could see an even stronger housing market in Central Texas.

The median price of Austin-area homes rose to $208,500, an increase of seven percent or $13,500 when compared to February 2012. Inventory remains low at only 2.6 months, making Central Texas a strong seller’s market. In total there are 25 percent fewer active listings and 15 percent more pending sales in February 2013 compared to the prior year. This continued demand will keep inventory tight for the foreseeable future.

Cathy Coneway, 2013 Chairman of the Austin Board of REALTORS®, explained, “Strong demand for Austin homes continues, but the number of listings on the market remains consistent. This has led to steady increases in price while keeping housing inventory at record lows.”

February 2013 Statistics

• 1,626 – Single-family homes sold, 26 percent more than February 2012.
• $208,500 – Median price for single-family homes, seven percent more than February 2012.
• 71 – Average number of days single-family homes spent on the market, 15 days fewer than February 2012.
• 2,574 – New single-family home listings on the market, one percent more than February 2012.
• 5,121 – Active single-family home listings on the market, 25 percent fewer than February 2012.
• 2,223 – Pending sales for single-family homes, 15 percent more than February 2012.
• 2.6 – Months of inventory* of single-family homes, 1.6 months less than February 2012.
• $430,324,152 – Total dollar volume of single-family properties sold, 32 percent more than February 2012.

Considering that February is considered part of the slow season for real estate, the outlook for this spring and summer is highly positive. While inventory should increase as we head into summer, it still might not reach the current growing demand. This will help inch prices up further and help strengthen our local real estate market. Right now we have dozens of buyers looking for homes to buy, so if you’re thinking about selling your home, please call Robert 512.791.0229 to set up a free consultation. We might already know a buyer out there looking for exactly the home you’d like to sell.