Austin, Texas Real Estate Market Update and Statistics January 2013

Austin’s winter weather may feel cold, but the Austin housing market is hot! December 2012 marked a 4% increase in sold prices per square foot, a 14% increase in homes sold, and a 28.95% decrease in days on the market, and home inventory remained low, with a 29% decrease in homes for sale, comparing December 2012 to December 2011. For the year 2012, home prices increased 5%, with 18% more homes sold and a 27% decrease in days on the market.

Interest rates remain at an average of 3.4% for a 30 year conventional loan today with 0.7 fees/points down per freddiemac.com. The Austin unemployment rate (Austin-Round Rock-San Marcos) reduced slightly from 5.3% in October 2012 to 4.9% in November 2012, which is a healthy unemployment rate.

With low inventory, low interest rates, and a low unemployment rate, Austin has continued its upward trend in regard to prices and sales volume!

Market Snapshot (compared to 2011)

• 18.44% increase in homes sold

• 4.99% increase in sold prices (total dollars)

• 5.12% increase in sold prices (per square foot)

• 26.76% decrease in days on market

December 2012 compared to December 2011

• 28.99% decrease in homes for sale compared to 12/31/11

• 30.27% increase in homes pending sale compared to 01/10/12

• 14.20% increase in the number of single-family homes sold

• 4.47% increase in median single-family sold price per square foot

• 3.60% increase in median sold price (total dollars)

• 28.95% decrease in the time it is taking to sell a home

• 6.82% decrease in number of homes for lease compared to 01/10/12

• 10.93% decrease in the number of homes leased

• No change in leased price per square foot

• 10.0% increase in the time it is taking to lease a home

2012 to 2011: Between January 1 and December 31, 2012, there were 10,349 single-family homes sold within Austin with a median sold price of $125.62 per square foot ($260,500) and averaging 52 days on the market. In 2011, there were 8,738 homes sold with a median sold price of $119.50 per square foot ($248,125) and averaging 71 days on the market. This is an 18.44% increase in the number of homes sold, a 5.12% increase in the median sold price per square foot, a 4.99% increase in sold prices (total dollars), and a 26.76% decrease in the days on market, compared to 2011.

Austin Real Estate Market Summary for December 2012

Sold: As of 12/31/2012, there were 796 homes sold in Austin, Texas during December 2012 compared to 697 during the same period of time in 2011 (14.20% increase). Overall home prices (per square foot) have increased 4.47%, and the total dollar sales prices have increased by 3.60% during December 2012 compared to December 2011, with a median sold price of $126.20 per square foot ($259,000) in December 2012 compared to $120.80 per square foot ($250,000) in December 2011. In December 2012, these sold homes averaged 54 days on the market compared to 76 days on the market in November 2011, which shows there was 28.95% decrease in the time it is taking to sell a home this December 2012 compared to last December 2011.

Active: There are 1,531 single-family homes for sale within Austin as of 01/15/13, averaging 107 days on the market with a median list price of $150.29 per square foot ($379,900). This is a 12.71% decrease from the 1,754 single-family homes for sale last month on 12/10/12 and a 28.99% decrease in homes actively for sale from the 2,156 single-family homes that were actively for sale within Austin on 01/10/12.

Pending Sale: There are 1007 houses pending sale in Austin as of 01/15/13, averaging 60 days on the market with a median price of $125.29 per square foot ($250,000). This is a 15.16% decrease from the 1,188 single-family homes pending sale last month on 12/10/12 and a 30.27% increase from the 773 homes that were pending sale on 01/10/12.

Withdrawn: There were 155 single-family homes withdrawn from the Austin real estate market during December 2012, compared to 227 homes withdrawn during December 2011, which is a 31.72% decrease. The homes withdrawn in December 2012 averaged 129 days on the market and were listed for sale with a median price of $167.53 per square foot ($426,000). This compares to an average of 125 days on the market with a median price of $141.30 per square foot ($319,500) for homes withdrawn from the market during December 2011.

Leases: As of 01/15/13, there are 711 homes (all types) for lease within Austin with a median lease price of $1 per square foot per month ($1,700 per month) and averaging 36 days on the market. This compares to 01/10/12, when there were 763 homes (all types) for lease within Austin with a median lease price of $0.97 per square foot per month ($1,400 per month) and averaging 39 days on the market. During December 2012, there were 554 homes (all types) leased in Austin compared to 622 leased in December 2011, which is a 10.93% decrease. In December 2012, the median leased price per square foot was $0.90 per square foot per month ($1,500 per month) and averaged 33 days on the market compared to $0.90 per square foot per month ($1,425 per month) and 30 days average on the market in December 2011, which shows the lease price per square foot has not increased and there was an 10.0% increase in the days on the market.

Source: The raw data in this report was provided by the Austin Board of REALTORS® and interpreted by Austin homes expert and top Austin REALTOR® Brian Talley of Regent Property Group. The information contained herein is subject to errors, omissions, and changes without notice. Any information, statistics, analytics, recommendations, or opinions provided in this report are subject to errors and/or omissions and are not in any way guaranteed as accurate or reliable by Brian Talley or by Regent Property Group LLC. Statistics in this report may be updated as more information is added or changed from the source of this information.