ATX: Austin Home Sales Hit Seven-Year High for November, Volume Up 24 Percent

The volume of Austin-area home sales continues to rise, according to this month’s Multiple Listing Service (MLS) report released this week by the Austin Board of REALTORS®. This makes November the 30th straight month of sales volume increases in Austin and marks the most home sales in November since ‘06.

From homes in Steiner Ranch to Barton Creek, sales were off the charts. According to the report, the total dollar volume of single-family properties sold in November 2013 was $555,757,542 – 24 percent more than November 2012.

“With strong activity across all segments of the market,” said 2013 Austin Board of REALTORS® President Cathy Coneway, “the Austin-area housing market has been full steam ahead through the holidays.”

The median price of sold homes for the Austin-area ($219,530) was 10 percent more than the same month in 2012. According to the report, 14 percent more single-family homes were sold in the Austin area last month (1,899 homes) than one year prior.

Homes spent an average of 51 days on the Austin market, marking a 16-day decrease from the previous November. Inventory remained at 2.3 months – a historically low level. That amount is over half of a month less than last November.

“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,” predicted Coneway.

The market also featured the same amount of new listings, 11 percent fewer active listings (5,119), and two percent more pending sales (1,756) in November 2013 compared to the prior year.

Looking for a luxury home in Austin? Whether it’s a ranch-style home in Falcon Pointe  or a Tudor-Revival-style home in Rob Roy, count on the experienced REALTORS® at Regent Property Group to assist you every step of the way.