Austin, Texas Real Estate Market Update and Statistics July 2013

Austin Maintains Price Increases as Real Estate Market Enters Summer Season

We’ve been saying for months now that Austin real estate prices are rising steadily at about a ten percent rate compared to last year, and June’s statistics solidify this trend. Year to date sold prices show median prices of $261,500 for 2012 and $287,000 for 2013 – very close to the ten percent mark.

Read historical data on Austin real estate statistics.

The spring real estate season was marked by competition among buyers for desirable homes and a flurry of sellers hopping into the market to take advantage of increased prices. Looking at current listings (down 25% from last year) and active prices (median of about $455k and average of about $797k,) it looks like these trends will continue into the summer.  

Market Snapshot: June 2013 compared to June 2012

• 25% decrease in homes actively for sale compared to 7/09/12
• 5.19% increase in homes pending sale compared to 7/09/12

Market Snapshot: 1/1/12 to 7/15/12 compared to 1/1/13 to 7/15/13

• 12.33% increase in the number of single-family homes sold
• 9.22% increase in median sold price (total dollars)
• 29.82% decrease in the time it is taking to sell a home

Between January 1 and July 15, 2013, there were 6,037 single-family homes sold within the Austin city limits with a median sold price of $134.99 per square foot ($288,000) and averaging 37 days on the market. During the same time period in 2012, there were 5,490 homes sold with a median sold price of $125 per square foot ($261,500) and averaging 54 days on the market. This is a 9.96% increase in the number of homes sold, a 7.99% increase in the median sold price per square foot, a 10.13% increase in sold prices (total dollars), and a 31.48% decrease in the days on market compared to the same time period in 2012.  

Year to Year Statistics

2013 Year to Date (January 1 to July 10, 2013) Sold Homes

• Number of sold homes: 5,900
• High sold price: $5,860,000 ($755.12 per square foot)
• Average sold price: $375,733 ($158.07 per square foot)
• Median sold price: $287,000 ($134.80 per square foot)

2012 Year to Date (January 1 to July 10, 2012) Sold Homes

• Number of sold homes: 5,328
• High sold price: $6,541,689 ($1,418.71 per square foot)
• Average sold price: $337,631 ($144.46 per square foot)
• Median sold price: $261,500 ($124.72 per square foot)

Month to Month Comparison

June 2013 Sold Homes

• Number of sold homes: 1,134
• High sold price: $4,875,000 ($581.81 per square foot)
• Average sold price: $386,682 ($162.25 per square foot)
• Median sold price: $304,078 ($140.80 per square foot)

June 2012 Sold Homes

• Number of sold homes: 1,249
• High sold price: $3,125,000 ($1,038.55 per square foot)
• Average sold price: $355,373 ($149.05 per square foot)
• Median sold price: $271,000 ($126.58 per square foot)

Active Home Listings

Active: There are 1,942 single-family homes for sale within the city limits of Austin, Texas as of 7/15/13, averaging 57 days on the market. This is a 25% decrease from the 2,601 single-family homes for sale on 7/09/12.

Pending Sale: There are 1,743 houses pending sale in Austin as of 7/15/13, averaging 33 days on the market, which is a 5.19% increase from the 1,657 homes that were pending sale on 7/09/12.

Contact Regent Property Group at 512.215.0565 to learn about your choices for buying and selling real estate in Austin. Get started now by performing an Austin Home Search to view available inventory!