April 2014 Austin Market Report

Posted on Wednesday, May 21st, 2014 at 3:09pm.

April 2014 Austin Market Report

Austin’s market is heating up for a sizzling summer selling season! Based on the latest numbers from the Austin Board of Realtors, April 2014 saw the highest home prices of all time in the Austin area. The median price for an Austin area home last month was $239,900, which is a 6% increase from April 2013. Despite this all-time high, Austin homes continued to sell fast. Homes spent five days fewer on the market compared to last April at just 45 days. The months of inventory available in Austin also decreased 0.4 months to just 2.3 months in April 2014. Listings weren’t staying on the market for long last month. There were 3% fewer active listings on the market compared to April 2013 and 6% fewer pending sales. All signs point to a hot summer for Austin real estate. Take a look at the latest statistics from the Austin Board of Realtors for April 2014:

April 2014 Austin Area Market Statistics

  • 1% increase in total single-family homes sold since April 2013 at 2,479 homes
  • Median sales price of a home was $239,900 last month, which is 6% more than April 2013
  • Total dollar sales volume for single-family homes increased 1% in April 2014 to $765,396,208
  • 0.4 month decrease in months of inventory available last April at 2.3 months
  • Homes spent 5 days fewer on the market with an average of 45 days in April 2014
  • 2% decrease in new listings for April 2014 at 3,481 listings
  • 3% decrease in active listings since April 2013 with 5,305 listings in April 2014
  • 2,805 pending sales in April 2014, or 6% less than April 2013

The high price for Austin homes in April is the result of a growing demand in the Austin market. So what can Austin home buyers and sellers do to combat rising prices this summer? With increasingly lower numbers for months of inventory and fewer new listings, now is the perfect time for a seller to add their home to the market. A strong Realtor can help you choose the best offer from the many received on your home. For buyers, knowing when new homes come on the market is the key to finding your dream home at a great price. A local agent will have all the insider knowledge you need to find the perfect home for your family. Your Reilly Realtors agent can even sign you up for our listing alerts so you can stay up-to-date on the latest listings in Austin. Whether you’re buying or selling a home, Reilly Realtors can help you every step of the way. Contact us today with any questions about buying or selling a home in Austin.

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