Austin, Texas Real Estate Market Update and Statistics September 2013

The real estate market continues to tighten in Austin, Texas! We’ve reached a point where overall inventory is almost a whopping 20 percent less than last year, with more homes selling and selling faster – almost 33 percent faster, in fact. Anecdotal evidence points to homes going under contract within single-digit days in the most popular areas, and selling tactics encouraging potential buyers to offer over list price for the most desirable homes are becoming more common.

All this has resulted in continued upward pressure on prices. Once again, we see that magic ten percent increase mark we’ve been reporting for months now: median price is up 10.3 percent compared to last year. Have you checked the listings in your neighborhood? It might be time to see what your house is worth in 2013 — because it certainly will be different than last year! (Hint: the median home is up $27k!)

Market Snapshot

• 18.93% decrease in homes for sale compared to 9/10/12
• 2.78% increase in homes pending sale compared to 9/10/12
• 11.98% increase in the number of single-family homes sold
• 10.30% increase in median sold price (total dollars)
• 32.69% decrease in the time it’s taking to sell a home

This year: Between January 1 and September 16, 2013, there were 8,439 single-family homes sold within the Austin city limits with a median sold price of $136.09 per square foot ($289,000) and averaging 35 days on the market.

Last year: During the same time period in 2012, there were 7,536 homes sold within Austin with a median sold price of $125.24 per square foot ($262,000) and averaging 52 days on the market.

This equals an 11.98% increase in the number of homes sold, a 10.85% increase in the median sold price per square foot, a 10.30% increase in sold prices (total dollars), and a 32.69% decrease in days on the market compared to the same time period in 2012. 

Did you know? Austin is nearing 1,000 more homes sold in 2013 than in 2012 – with over a business quarter left to go in the year!  

Year to Year Statistics

2013 Year to Date (January 1 to September 16, 2013) Sold Homes

• Number of sold homes: 8,439
• High sold price: $5,860,000 ($2,358.33 per square foot)
• Average sold price: $375,457 ($159.37 per square foot)
• Median sold price: $289,000 ($136.09 per square foot)

2012 Year to Date (January 1 to September 16, 2012) Sold Homes

• Number of sold homes: 7,536
• High sold price: $7,750,000 ($1,418.71 per square foot)
• Average sold price: $339,574 ($145.11 per square foot)
• Median sold price: $262,000 ($125.24 per square foot)

Month to Month Comparison

August 2013 Sold Homes

• Number of sold homes: 1,208
• High sold price: $3,650,000 ($669.25 per square foot)
• Average sold price: $371,220 ($158.21 per square foot)
• Median sold price: $279,700 ($135.98 per square foot)

August 2012 Sold Homes

• Number of sold homes: 1,056
• High sold price: $7,000,000 ($511.96 per square foot)
• Average sold price: $348,044 ($147.61 per square foot)
• Median sold price: $269,950 ($127.76 per square foot)

Active Home Listings

Active: There were 1,983 single-family homes for sale within the city limits of Austin, Texas on 9/16/13, averaging 73 days on the market. This is an 18.93% decrease from the 2,446 single-family homes for sale on 9/10/12.

Pending Sale: There were 1,294 houses pending sale in Austin as of 9/16/13, averaging 35 days on the market, which is a 2.78% increase from the 1,259 homes that were pending sale on 9/10/12.

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.

Ready for real estate action? We are, too! Call us at 512.215.0565 to learn about your options for buying and selling Austin real estate. Or, perform an Austin Home Search to view available inventory!