Austin, Texas Real Estate Market Update and Statistics April 2013

Are you searching for a home for sale in Austin? You’re not alone! The housing market is as active as it has been in years, and this flurry of activity has resulted in a dramatically lower amount of homes on the market.

“There is no more leisurely pace to finding a home in Austin,” said Regent Property Group Broker Brian Talley. “When buyers find the right home for their needs, they have to make an offer – that day.”

As of April 9, 2013, 1,504 homes were for sale in Austin, whereas there were 2,457 homes for sale exactly one year ago. That’s only about 61% of the inventory last year’s buyers had available!

Guess what this means for homebuyers?

Higher Prices in Austin

Looking at March 2013 to March 2012 comparisons, the average sold price is about $48,500 higher this year, and the median sold price is about $31,600 higher. Looking year to date both years, the average sold price is about $39,500 higher in 2013, and the median sold price is about $26,000 higher. Considering median priced homes, this means most people will be spending well over 10% more for a home this year than they would have last year.

Active homes might give potential homebuyers even more incentive to pick up their home buying pace: the average list price now is almost $850,000 and the median list price is about $474,000. Both of these may indicate further price increases. And, to further fan the red hot market? Right now, 250 more homes have sold this year compared to last, 53 more homes sold this March compared to last March, and there are 1,729 homes already under contract.

Pending Homes

• 1,729 homes under contract
• High list price of $3,695,000
• Average list price of $385,376
• Median list price of $279,900

Sold March 2012

• 823 homes sold
• High sold price of $3,670,000
• Average sold price of $316,982
• Median sold price of $246,400

Sold Year to Date 2012

• 2,029 homes sold
• High sold price of $3,670,000
• Average sold price of $314,624
• Median sold price of $244,000

Are you ready to jump into the Austin housing market, while historically low interest rates still increase your purchasing power? Or, is your wait finally over to sell an Austin home? Perform an Austin Home Search, and contact the top Realtors in Austin at Regent Property Group: 512.215.0565!