If you want to know what is happening in Austin area Real Estate--you should be reading this blog. Why? Because over the years, I have studied how to report numbers that truly reflect how the market is responding and more importantly--HOW THAT AFFECTS YOU AS A BUYER or SELLER. I am not a casual part-time Realtor. I live my business. I am a Real Estate investor. I remodel homes to rent and sell. I am an Austin Area Realtor who works with and helps more than 25 buyers and sellers a year in the Greater Austin area--sell their homes and buy their next Austin area home. And the numbers here reflect the data that tells buyers and sellers which direction the market is heading and what to expect in the coming weeks and months in our local market. If you can't find the numbers you are looking for here, contact me personally so I can give you the details on homes in your specific community and help you figure out what that means to you. Now to the numbers:
- 7,828 homes For Sale (Single Family, Condos, Townhouses) (down 270 homes)
- 3,126 homes under contract!
- 19,022 homes have closed so far this year
- YTD compared to 2011: +2,746
- ~17% increase over 2011 YTD numbers
- Median Sold price across Greater Austin: $209,153
- -up ~$13k over YTD 2011
- Median price as a percentage of list price: 98%
- Median days on market YTD: 33
- -18 days faster than YTD 2011
- Median days on market during past month: 34 days
- Most expensive home sold YTD: $7.75M
- Median SOLD in Travis County past 30 days: $239,000
- Median SOLD in Williamson County past 30 days: $183,000
Houses are selling fast! Inventory is low! So buyers still have to be ready to jump on opportunities as they are uncovered online by your Realtor and your own research. I recommend to all of my clients that we see the houses the same day they come on the market--especially for fast moving communities.
The good news for buyers is that home prices may be adjusting for homes that have been on the market for longer periods of time and did not sell during the summer. But this is no guarantee that you will get a reduced price now or that new sellers coming on the market for the first time will have to reduce their price to sell. Every property and area is unique. Keep in mind, these are statistics. These numbers can tell us directionally what is happening in the larger markets, not what your home is worth or how to bid on a given home that you want to purchase.
Houses that are priced right and show well are still 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 about your real estate needs.
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