Austin, Texas Real Estate Market Update and Statistics December 2013

Austin just made it through one of its coldest stretches ever during early December! And, while our flip-flop loving populace may be tempted to burst into an a capella rendition of, “Baby, it’s cold outside!” Austin real estate agents know there is still plenty of heat to keep us warm when we look to the real estate market.  

Remember last month, when we told you the median number of days on the market for homes was only 11 days? Well, that was no fluke! This month’s data continue to back up that low number, with half of sold homes going under contract in under 11 days. Remarkable, yes? Not surprisingly, this is helping home prices continue their steady increases: we’ve been close to 10 percent all year, compared to last year’s numbers, and now the median home in Austin is selling for $285k, the average at about $372k.     

Year to Year Market Snapshot

• 9.9% decrease in homes for sale compared to 12/9/2012
• 11.1% decrease the homes pending sale compared to 12/9/2012
• 11.01% increase in the number of single-family homes sold
• 9.35% increase in median sold price (total dollars)
• 32.69% decrease in the time it is taking to sell a home

Year to Year Statistics

2013 Year to Date (January 1 to December 9, 2013) Sold Homes

• Number of sold homes: 10,846
• High sold price: $5,860,000 ($2,358.33 per square foot)
• Average sold price: $372,475 ($159.87 per square foot)
• Median sold price: $285,000 ($136.47 per square foot)

2012 Year to Date (January 1 to December 9, 2012) Sold Homes

• Number of sold homes: 9,770
• High sold price: $7,750,000 ($1,418.71 per square foot)
• Average sold price: $341,903 ($145.52 per square foot)
• Median sold price: $260,610 ($125.52 per square foot)

This Year: Between January 1 and December 9, 2013, there were 10,846 single-family homes sold within the Austin city limits, with a median sold price of $136.47 per square foot ($285,000) and averaging 35 days on the market.

Last Year: During the same time period in 2012, there were 9,770 homes sold, with a median sold price of $125.52 per square foot ($260,610) and averaging 52 days on the market.

How It Compares: This is a 11.01% increase in the number of homes sold, an 8.72% increase in the median sold price per square foot, a 9.35% increase in sold prices (total dollars), and a 32.69% decrease in the days on market compared to 2012.

Month to Month Comparison

November 2013 Sold Homes

• Number of sold homes: 757
• High sold price: $4,345,000 ($774.23 per square foot)
• Average sold price: $376,489 ($161.91 per square foot)
• Median sold price: $272,750 ($138.41 per square foot)

November 2012 Sold Homes

• Number of sold homes: 737
• High sold price: $4,475,000 ($546.88 per square foot)
• Average sold price: $349,933 ($145.77 per square foot)
• Median sold price: $259,000 ($128.91 per square foot)

Active Listings: There were 1,579 single-family homes for sale within the city limits of Austin, Texas on 12/9/2013, averaging 92 days on the market. This is a 9.9% decrease from the 1,754 single-family homes for sale on 12/9/2012. Know which neighborhood you want to live in? Check out our directory of Austin neighborhoods to see what homes are active.

Homes Pending Sale: There were 1,055 houses pending sale in Austin as of 12/9/2013, averaging 46 days on the market. This is 11.2 percent less than the 1,188 homes pending sale on 12/9/12.