2012: Best Year Since Recession

Posted by Michael Reilly on Tuesday, January 22nd, 2013 at 6:53am.

The Austin Board of Realtors has just released the final market statistics for 2012…and the results are very exciting. The report confirms that December 2012 was another fantastic month for the Austin real estate market. In fact, December 2012 marked the 19th straight month of sales volume increase, which means this past year saw the best December real estate market since 2006! Most exciting of all the news is the confirmation that 2012 was the best year for Austin’s real estate market since the recession. Home sales increased by nearly 20% since 2011 for a total of 22,946 single-family homes sold in Austin in 2012. Median prices for homes rose throughout the year, while total inventory and days spent on the market continued to fall (and indications are that the Austin market will continue to grow stronger). Here are the statistics... December 2012:
  • 1,828 single-family homes sold in Austin, a 17% increase from the number of homes sold in Dec. 2011
  • Total dollar volume of single-family properties sold was 35% higher than Dec. 2011, with a Dec. 2012 total of $513,028,200
  • Median price for single-family homes: $210,000, up 11% from Dec. 2011
  • 1,367 new single-family home listings on the market, down slightly from Dec. 2011
  • Average number of days single-family homes spent on the market fell from 89 in Dec. 2011 to 71 in Dec. 2012
  • Months of inventory of single-family homes: 2.7 (down 1.4 months from Dec. 2011)
  • 24% more pending sales than Dec. 2011 for single-family homes: 1,519
  • 5,219 active single-family home listings on the market- 22% less than Dec. 2011
2012:
  • 22,946 single-family homes sold in Austin, a 19% increase from 2011
  • The total dollar volume of single-family properties sold was 26% higher than 2011, with a 2012 total of $6,204,024,237
  • Median price for single-family homes: $205,000, up 6% from 2011
  • 31,441 new single-family home listings on the market, up 3% from December 2011
  • Average number of days single-family homes spent on the market fell from 84 in 2011 to 69 in 2012
  • 19% more pending sales than 2011 for single-family homes: 24,941
  • 6,853 active single-family home listings on the market- 20% less than 2011
Home sales volume is up, active listings are down, and 2012 was an incredible year for the Austin real estate market. We’re anticipating that 2013 will be just as good, if not better. If you’re planning on buying or selling a home in Austin, be sure to contact Reilly Realtors for incredible service. Click here to start your Austin home search, today!

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