Most residents of Austin metro area are quite aware of increased home sales, even those not currently involved in buying or selling property. The Austin Board of Realtors® released an article (below) with statistics showing an ongoing rise in the number of homes sold. A thirty-two percent rise in April sales, in fact, made for a high we haven’t seen since 2004! The report shows other numbers up since last year too, including average sales price, days on market, and demand for new home construction.
Austin Board of REALTORS® releases real estate statistics for April 2013
AUSTIN, Texas – May 21, 2013 – According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS® (ABoR), the volume of Austin-area home sales continues to rise as April became the 23rd straight month of year-over-year sales volume increases, and April saw its most home sales since 2004.
According to the report, 2,563 single-family homes were sold in the Austin area in April 2013, which is 32 percent more than April 2012. On average, homes spent 50 days on the market, which is a decrease of 19 days from one year prior.
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.”
The total dollar volume of single-family properties sold was $794,158,365, or 52 percent higher. The market also featured 10 percent more new listings, 25 percent fewer active listings and 20 percent more pending sales in April 2013 compared to the prior year.
In April 2013, the median price for Austin-area homes increased eight percent more than the same month last year to $227,250. Additionally, the market featured 2.7 months of inventory in April 2013, which is 1.3 months less than April 2012.
“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.Months of inventory* of single-family homes, 1.3 months less than April 2012