According to a recent report from the Austin Board of Realtors a non-profit, voluntary organization dedicated to educating and supporting Central Texas REALTORS®. The Austin real estate market is off to yet another strong year, with Austin-area homes sales up four percent in 2014 and median home prices up seven percent year-over-year. This news comes on the heels of a record setting residential real estate market in 2013 with home sales setting all-time highs as housing inventory hit all-time lows.
Turnquist Partners Realtors, Inc. President and top producing RealtorKathryn Bechtol summarizes the Austin market – Kathryn Bechtol summarizes the Austin market – “As Austin sees an unprecedentedly low inventory in the market and a continued influx of new residents and businesses moving to the Austin-area. The continued rise in the median home prices comes as no surprise, and new residents now are having to expand their home searches to include the surrounding areas such as Round Rock, Pflugerville, and Georgetown.”
With Austin’s rapid population growth reported at upwards of 110 individuals moving to the area a day, and the booming technology and I.T. business sectors. Coupled with the low cost of living, warm weather, and young population this trend in the housing market should continue on well past 2014.
January 2014 Austin, Texas Housing Statistics:
1,449 – Single-family homes sold, four percent more than January 2013.
$211,800 – Median price for single-family homes, seven percent more than January 2013.
63 – Average number of day’s single-family homes spent on the market, nine days fewer than January 2013.
2,337 – New single-family home listings on the market, four percent more than January 2013.
4,591 – Active single-family home listings on the market, seven percent fewer than January 2013.
1,946 – Pending sales for single-family homes, five percent fewer than January 2013.
2.0 – Months of inventory* of single-family homes, 0.5 months less than January 2013.
$393,536,808 – Total dollar volume of single-family properties sold, eight percent more than January 2013.
Statistics and info graphic courtesy of Austin Board of Realtors
For more information on Texas Real Estate contact Turnquist Partners Realtors, Inc. at 512.328.3939 or visit online here. With offices in Austin, Lakeway, Houston, and Catula, Texas they can assist with all your Real Estate needs.