Wednesday, January 23, 2013

Austin Real Estate Market Update & Consumption Rate - Mid January 2013

December to January is normally the time of year that busy Realtors get to take a breath, regroup and plan for the coming year--well, not this year! Traffic from both investors and buyers both feels like we are starting high season. If this is any indication of what we are going to see this year--put on your seat belts. It is going to be a wild ride this year. Already, I am seeing 1 in 5 houses go under contract between the time I print out a listing to go see and the time that I make the call to go see the house with my clients--12-24 hours later. Houses are moving fast--especially the ones that show well and are priced to market.

Here are the numbers:

  • 5,724 homes for sale: Single Family, Condos/Townhouses--Inventory is very low
  • 2,786 homes under contract: buyers are still buying!
  • 770 homes have already closed this year!

Median Sold Home Stats for Single Family Homes:
  • Median price across Greater Austin: $197.9k
  • ~90% of homes sold in Greater Austin are Single Family homes
  • ~50% of the homes were sold in Travis County
  • ~32% of the homes were sold in Williamson County
  • Median price as a percentage of asking price: 98%
  • Median days on market is very low: 37 days
  • Most expensive home sold YTD: $3.7M
  • Median SOLD in Travis County: $236,250
  • Median SOLD in Williamson County: $190,000

Q: So how fast are SFR homes selling in Greater Austin area?
A: As of today, with more than 2,504 Single Family homes with pending contracts, here are the rates at which homes are selling during the first 34 days on the market:
  • The first day on market: ~4% of these home
  • First 3 days on market: ~11% of these homes
  • First 8 days on market: ~20% of these homes
  • First 14 days on market: ~29% of these homes 
  • First 41 days on market: 50% of the available homes are sold

Whether you are Buying or Selling your home--give me a call and we can discuss what is happening in your community or the area where you are looking. I am Tim Thornton, your Austin Area Realtor.

1 comment:

  1. the time that I make the call to go see the house with my clients hours later. Houses are moving fast especially the ones that show well and are priced to market. Hardwood Flooring Calgary

    ReplyDelete

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