August 2014 Austin Market Report

Posted on Friday, September 19th, 2014 at 4:47pm.

August 2014 Austin Market Report

The hot summer selling season has come to a close as Austin residents settle into their new homes for the fall. Despite the end of summer, Austin home buyers and sellers stayed busy last month. The newest statistics from the Austin Board of Realtors show that 2,835 single-family homes were sold in August, which is just 4% less than August 2013. The median price of an Austin area home also rose 11% to $247,500. Although prices continue to rise, homes also continue to sell quickly in the Austin area, spending just 42 days on the market in August. A 4% rise in new listings and 10% rise in active listings also gave Austin’s housing inventory a much-needed boost last month. Austin’s available housing inventory hit 3.0 months of inventory in August, which is 0.2 more than last year. Take a look at the latest numbers from the Austin Board of Realtors:

 August 2014 Austin Area Market Statistics

  • 2,835 single-family homes sold last August, or 4% less than August 2013
  • 11% increase in the median price of a home in August 2013 to $247,500 in August 2014
  • Homes spent 42 days on the market on average, compared to 43 days in August 2013
  • $882,858,690 total dollar sales volume in August 2014, which is 4% more than last year
  • 3.0 months of inventory last August, or 0.2 months more than August 2014
  • 4% increase in new home listings since last year to 3,310 in August 2014
  • 10% more active listings in August 2014 than August 2013 at 6,707 listings
  • 2,430 pending sales last August, which is a 1% increase since August 2013

Although this is the second month of lower home sales and higher home prices, Austinites shouldn’t see this as a decline in the real estate market. Real estate sales typically cool off after the kids head back to school. However, there are still plenty of buyers out there looking for a great Austin area home. Sellers, don’t hesitate to list your home! With just 3 months of available inventory, the Austin market needs more homes to meet the demands of buyers. An expert Realtor can help you price your home in order to attract the most interested buyers. Austin buyers shouldn’t be discouraged by rising home prices. Over 6,000 active listings means your dream home is out there waiting to be found. An experienced agent knows just where to find your perfect home, not to mention how to negotiate a fair price. Our agents have all the skills and experience you need on your side, whether you’re buying or selling a home in Austin. Contact us today to start working with one of our top agents.

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