Mon Morning Market Update - Austin Real Estate - July 30th

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Snapshot of what is happening in Austin Real Estate today:

• 8,772 homes for sale (Single Family, Condos, Townhouses) (-28 homes)
• 3,804 homes under contract!
•    -Almost half of Active Homes
•  We are in a "Seller's Market"
• 13,918 homes have closed so far this year (+634 homes over last week)
• YTD compared to 2011:  +1,617 increase of sold homes YTD

Median Sold Home Stats for Single Family Homes:

• Median price across Greater Austin: $209,375
• Median price as a percentage of list price: 98%
• Median days on market is low, low, low: 34
• Most expensive home sold YTD: $7.75M
• Median SOLD in Travis County: $245,000
• Median SOLD in Williamson County: $181,525

The Greater Austin Real Estate market is still hopping. Buyers are not just people moving into the area for the first time, but also those who live here and are interested in taking advantage of low interest rates and house prices that are already on the rise. We are investors return in large numbers and buyers who were trying to time the bottom of the market getting on the bus. 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. 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 fist day on the market even have a chance to bid on it. Of course, not all houses fall into this category. It 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 ®.