Austin, Texas Real Estate Market Update and Statistics November 2013

What if you could put your home on the market and have it under contract in less than two weeks? That’s what’s happening every day in the sizzling Austin real estate market! Looking at the ten thousand plus homes that have sold so far this year, half of these houses were under contract within 11 days of the list date. This bears repeating: the median “days on the market” for Austin homes is only 11 days!

Gone, gone are the days of testing the waters and seeing what bites. Today it’s more a matter of how many offers, and at how much? From a sellers’ perspective, the tight market also is great because shorter listing periods mean showings occur over a narrower window of time – which, anyone who has been through the process knows, is much more convenient.

Buyers, on the other hand, discover quickly that the best homes in the most desirable neighborhoods can sell within hours of being listed (or even before they are listed.) Savvy buyers choose Regent Property Group agents, who can network with other Realtors® on their behalf to find these opportunities!

What are the numbers that stack up to this market?

Year to Year Market Snapshot

• 1.5% decrease in homes for sale
• Equal to last year’s homes pending sale
• 11.16% increase in the number of single family homes sold
• 9.77% 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 November 8, 2013) Sold Homes

• Number of sold homes: 10,053
• High sold price: $5,860,000 ($2,358.33 per square foot)
• Average sold price: $372,504 ($159.76 per square foot)
• Median sold price: $286,500 ($136.35 per square foot)

2012 Year to Date (January 1 to November 8, 2012) Sold Homes

• Number of sold homes: 9,003
• High sold price: $7,750,000 ($1,418.71 per square foot)
• Average sold price: $341,046 ($145.32 per square foot)
• Median sold price: $261,000 ($125.42 per square foot)

This Year: Between January 1 and November 8, 2013, there were 10,053 single-family homes sold within the Austin city limits, with a median sold price of $136.35 per square foot ($286,500) and averaging 35 days on the market.

Last Year: During the same time period in 2012, there were 9,003 homes sold, with a median sold price of $125.42 per square foot ($261,000) and averaging 52 days on the market.

How it compares: This is an 11.16% increase in the number of homes sold, an 8.71% increase in the median sold price per square foot, a 9.77% increase in sold prices (total dollars), and a 32.69% decrease in the days on market compared to the same time period in 2012.

Month to Month Comparison

October 2013 Sold Homes

• Number of sold homes: 844
• High sold price: $4,500,000 ($1,311.57 per square foot)
• Average sold price: $347,641 ($159.96 per square foot)
• Median sold price: $274,007 ($136.17 per square foot)

September 2012 Sold Homes

• Number of sold homes: 868
• High sold price: $4,200,000 ($690.96 per square foot)
• Average sold price: $365,657 ($149.09 per square foot)
• Median sold price: $266,000 ($128.18 per square foot)

Active Listings: There were 1,772 single family homes for sale within the city limits of Austin, Texas on 11/8/2013, averaging 83 days on the market, with a median of 56 days. This is a 1.5% decrease from the 1,775 single-family homes for sale on 11/8/2012. The average list price is about $756k, and the median list price is $440k. Already know which neighborhood you want? Check out this directory of Austin neighborhoods to see what homes are still listed as active.

Homes Pending Sale: There were 1,150 houses pending sale in Austin on 11/8/2013, averaging 43 days on the market, with a median of 22 days. This is equal to the 1,150 homes that were pending sale on 11/8/2012.

Interested in Austin’s real estate by the numbers? Check out Austin real estate statistics from recent months and Austin luxury home real estate statistics.