Austin, Texas Real Estate Market Update and Statistics October 2013

Austin real estate has reached a new benchmark: over 1,000 more homes have sold this year than at the same point last year! Have you checked the listings in your neighborhood recently? Chances are, many of the homes are under contract, since they are averaging only about a month on the market this year. And, we bet you’ll see some surprisingly higher prices: Austin’s average sold price is around $375k, and the median sold price is up to $289k.

Much of this is due to the ever-increasing population in Austin, of course (Why, you ask?) but we’re also seeing many longtime homeowners take advantage of the tighter market to cash in on accumulated equity. Whether upgrading to a luxury home, downsizing to pay off debt, or simply moving to a neighborhood that better fits their lifestyle, Austinites are on the move …

Market Snapshot

• 13.19% decrease in homes for sale compared to 10/8/2013
• 4.84% decrease in homes pending sale compared to 10/8/2013
• 12.43% increase in the number of single-family homes sold
• 10.73% 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 October 8, 2013) Sold Homes

• Number of sold homes: 9,174
• High sold price: $5,860,000 ($2,358.33 per square foot)
• Average sold price: $374,981 ($159.82 per square foot)
• Median sold price: $289,000 ($136.40 per square foot)

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

• Number of sold homes: 8,160
• High sold price: $7,750,000 ($1,418.71 per square foot)
• Average sold price: $338,870 ($145.09 per square foot)
• Median sold price: $261,000 ($125.18 per square foot)

This Year: Between January 1st and October 8, 2013, there were 9,174 single-family homes sold within the Austin city limits with a median sold price of $136.40 per square foot ($289,000) and averaging 35 days on the market.

Last Year: During the same time period in 2012, there were 8,160 homes sold with a median sold price of $125.18 per square foot ($261,000) and averaging 52 days on the market.

2013 YTD compared to 2012 YTD: This equals a 12.43% increase in the number of homes sold, an 8.96% increase in the median sold price per square foot, a 10.73% increase in sold prices (total dollars), and a 32.69% decrease in the days on market.

Month to Month Comparison

September 2013 Sold Homes

• Number of sold homes: 906
• High sold price: $3,385,000 ($754.94 per square foot)
• Average sold price: $373,572 ($162.63 per square foot)
• Median sold price: $288,950 ($138.88 per square foot)

September 2012 Sold Homes

• Number of sold homes: 778
• High sold price: $4,375,000 ($991.61 per square foot)
• Average sold price: $329,818 ($144.59 per square foot)
• Median sold price: $246,000 ($123.38 per square foot)

Active: There are 1,940 single-family homes for sale within the city limits of Austin as of 10/8/2013, averaging 77 days on the market. This is a 13.19% decrease from the 2,235 single-family homes for sale year on 10/8/2012. View active home listings in Austin.

Pending Sale: There are 1,199 houses pending sale in Austin as of 10/8/2013, averaging 35 days on the market, which is a 4.84% decrease from the 1,260 homes that were pending sale on 10/8/12.

Interested in diving deeper into Austin’s real estate numbers? Check out Austin real estate statistics from recent months and Austin luxury home real estate statistics.