Austin Home Sales Hit 5 Year High

Posted on Friday, December 21st, 2012 at 6:12am.

As we head into the traditionally slow season of real estate, the Austin market continues to outperform all reasonable expectations. The most recent statistics from the Austin Board of REALTORS® shows that the volume of Austin-area home sales continues to rise, with November becoming the 18th straight month of sales volume increase. In fact, this past month saw the most home sales in November since the same month in 2007. The exact numbers are as follows: November 2012 Austin real estate statistics:
  • 1,671 single-family homes sold (23% more than November 2011)
  • $200,000 was the median price for single-family homes (7% more than November 2011)
Other important statistics: Homes spent an average of 67 days on the market (16 days fewer than November 2011). There were 1,970 new single-family home listings on the market (an 8% increase from the same month last year). Active single-family home listings on the market were down 20% from the year before, with a total of 5,737. There were 1,730 pending sales for single-family homes, an increase of nearly 20% from November 2011. And for November 2012 there were three months of inventory of single family homes (1.5 months less than November 2011). Perhaps most impressive of all is the total dollar volume of single-family properties sold. For the month of November 2012, the total was $455,959,086- a full 35% higher than the same month last year. The volume of townhouses and condominiums purchased also increased by 26% and the median price for condos was $180,000, a 14% increase from November 2011.With sales of Austin-area homes rising 23% from the same month last year, ABoR Chairman Leonard Guerrero stated that, “This is the strongest November housing market we’ve seen since the recession.” That’s certainly good news to keep in mind during the holiday season. For more information about Austin real estate news and statistics, be sure to regularly check in with Reilly Realtor’s blog: http://www.austinhomelistings.com/blog/ for the latest news and information on Austin homes for sale.

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