Austin Real Estate is hopping! We are more than 2,000 homes sold ahead of where we were this time last year and homes are sitting on the market for a much shorter period of time. In the last week alone over 1000 homes have closed and 3,500 homes are currently under contract--expected to close during the next 30 days. Inventory is low and activity is high. We are in a Seller's Market--which means that homes that are priced right and show well are selling fast! (See my report on how fast homes are selling).
- 8,569 homes for sale (Single Family, Condos, Townhouses) (-88 homes)
- 3,500 homes under contract!
- 16,233 homes have closed so far this year (+1090 homes over last week!)
- YTD compared to 2011: +2,128
- - nearly 15% increase YoY
Median Sold for Single Family Homes:
- Median Sold price across Greater Austin: $210,000
- Median price as a percentage of list price: 98%
- Median days on market YTD: 33
- Median days on market during past month: 27 days
- Most expensive home sold YTD: $7.75M
- Median SOLD in Travis County past 30 days: $256,000
- Median SOLD in Williamson County past 30 days: $189,950
The median days on market in Travis County is 21 days! That means that half of the houses in Travis County that are going under contract are doing so in 21 days or less. In fact, many of these homes are going under contract in less than 24 hours! Williamson County is only 1 week more than Travis. Half of the houses sold in less than 30 days on the market.
Inventory is low, so buyers have to be ready to jump on opportunities as they are uncovered. Houses that are priced right and show well are selling in as little as one day or one week--often times with multiple bids. Many buyers are being surprised by how fast homes are selling. Many houses are selling so fast that only the buyers who see it during the first day on the market have a chance to bid on it. Of course, not all houses fall into this category. The home has to show well and be priced to market. Otherwise, the competition will handily squash it. Want to know more--call me. Let's Talk.
Tim ThorntonYour Austin area Realtor ®.
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