Monday, February 18, 2013

Austin Real Estate Market and Consumption Rate, Mid Feb. 2013 Report

Wow. I don't know how many times I can say this and not sound like a used car salesman, but this is a "run-away" market! Low inventory. High buyer activity. Saturated rental market. Investors. Individuals. All price point buyers. This market is booming. I am showing homes to multiple buyers each week and if we start with a list of 10 homes, I can almost guarantee that 2 or 3 of those homes will be under contract within 24 hours of printing out the listing data sheets! Great time for sellers to be selling and with interest rates so low, it is a great time for buyers to be buying. There--that's my used car pitch for today!

Here are the numbers:

  • 5,670 homes for sale: Single Family, Condos/Townhouses--Inventory is very low
  • 3,518 homes under contract: Way Up from Jan
  • 2,112 homes have already closed this year! 3 times Jan's report

Median Sold Home Stats for Single Family Homes:
  • Median price across Greater Austin: $201,000
  • Median price as a percentage of asking price: 98%
  • Median days on market is very low: 39 days
  • Most expensive home sold YTD: $3.7M
  • Median SOLD in Travis County: $245,000
  • Median SOLD in Williamson County: $183,542

Q: So how fast are SFR homes selling in Greater Austin area?
A: As of today, with more than 3,151 Single Family homes with pending contracts, here are the rates at which homes are selling during the first 30 days on the market:
  • The first day on market: almost 6% of these home
  • First 3 days on market: ~15% of these homes
  • First 7 days on market: ~26% of these homes
  • First 14 days on market: ~38% of these homes 
  • First 30 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. Austin Board of Realtors announced yesterday that inventory levels are as low as 2.5 months! and Jan 2013 over Jan 2012 saw a 33% increase in sales volume, an increase in sold values and the biggest start to any year since 2007! 2012 was really big for Austin and 2013 looks like it will be even bigger!


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