December 2013 Austin Market Report

Posted on Monday, January 20th, 2014 at 4:14am.

As far as real estate is concerned, December 2013 finished out the year with a bang! The latest statistics from the Austin Board of Realtors show that last month hit a historic high for home sales with 2,080 total sales. The Austin market also ended the year with an all-time low for the available housing inventory at just 2 months of inventory. Homes sold 19 days faster in December 2013 compared to December 2012, spending an average of 52 days on the market. The steadily rising home prices in Austin averaged to $226,000 in December and resulted in $610,579,840 in total dollar volume of home sales. With higher sales and prices plus fewer months of inventory, December 2013 continued the same trend we saw throughout the year. Check out the latest Austin area market statistics for December from the Austin Board of Realtors:

December 2013 Austin Area Market Statistics

  • 2,080 single-family homes sold last month, which is 14% more than December 2012
  • 1,404 new single-family homes were listed in December 2013, or 3% more than December 2012
  • 11% decrease in active listings from December 2012 at 4,545 listings
  • 1,375 pending listings were on the market last month, or 9% less than December 2012
  • 0.7 fewer months of inventory available than December 2012 at 2 months for December 2013
  • 8% increase in the median price of a home from December 2012 to $226,000
  • Total dollar volume of home sales in December was $610,579,840- 19% more than December 2012

The Austin Board of Realtors also released the year-end totals for 2013. Just over 27,000 single-family homes were sold last year, which are the most home sales seen in Austin since 2007. All these sales yielded a 28% increase in the total sales volume of Austin homes to $7,933,813,683. Take a look at the totals for 2013:

Year-End 2013 Austin Area Market Statistics

  • 27,298 single-family homes were sold in 2013, or 19% more than 2012
  • The median price of a home in 2013 was 9% more than the previous year at $223,890
  • 2013 had a 28% increase in total dollar sales volume than 2012 for a total of $7,933,813,683
  • Homes spent 19 days fewer on the market in 2013 than 2012 with an average of 50 days
  • 34,132 new listings on the market- a 9% increase over 2012
  • 5,492 active listings were on the market in 2013, or 20% less than 2012

It looks like Austin’s growth isn’t slowing down any time soon, so Austinites can prepare for another spectacular year for Austin’s market in 2014. We can also expect the inventory of homes to shrink and prices to rise if developers can’t keep up with the demand in Austin. As long as the inventory of available homes remains low, the market in Austin will become increasingly competitive in 2014. If you’re selling your home, be prepared to receive multiple offers within days of listing your home. Buyers should not be afraid to be aggressive in this market and be ready to move quickly once they find the perfect home. Whether you’re buying or selling, our strong Realtors have all the tools and experience to help you make the most of this hot market. Contact us today to start working with one of our expert agents.

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