December 2014 Austin Market Report

Posted on Wednesday, January 21st, 2015 at 5:00pm.

December 2014 Austin Market Report

December was another record-setting month for Austin real estate! According to the latest year-end reports from the Austin Board of Realtors, December 2014 posted the highest number of home sales ever for the month with 2,283 single-family homes sold. That’s a 14% increase over December 2013. While December can be a slow month for real estate overall, the Austin market didn’t seem to slow down. Compared to December 2013, new and active listings rose by 10% and 12%, respectively, while pending sales grew by 18%. December turned out to be a great time to be active in Austin real estate. Take a closer look at the latest numbers from the Austin Board of Realtors for December:

December 2014 Austin Area Market Statistics

  • 2,283 single-family homes sold last month, which is 14% more than December 2013
  • 1,546 new single-family homes were listed in December 2014, or 10% more than December 2013
  • 12% increase in active listings from December 2013 at 5,077 listings
  • 1,623 pending listings were on the market last month, or 18% more than December 2013
  • 0.2 more months of inventory available than December 2013 at 2.2 months for December 2014
  • 10% increase in the median price of a home from December 2013 to $246,350
  • Total dollar volume of home sales in December was $701,200,206- 21% more than December 2013

2014 overall was a record-setting year for Austin real estate, with the highest-ever number of single-family homes sold annually at 27,768 homes. Last year also marks the 4th straight year that Austin has seen an increase in annual home sales. Here are the year-end totals for 2014 from the Austin Board of Realtors:

Year-End 2014 Austin Area Market Statistics

  • 27,768 single-family homes were sold in 2014, or 2% more than 2013
  • The median price of a home in 2014 was 8% more than the previous year at $242,500
  • 2014 had a 9% increase in total dollar sales volume than 2013 for a total of $8,607,385,376
  • Homes spent 3 days fewer on the market in 2014 than 2013 with an average of 47 days
  • 35,423 new listings on the market- a 4% increase over 2013
  • 5,734 active listings were on the market in 2014, or 4% more than 2013
  • 28,325 pending sales hit the market in 2014, which is 1% more than 2013

2014 was a year of strong, stable growth for the Austin market, and we can expect 2015 to be similar. Our agent Courtney Phelps said it best- “There is genuine growth in the Austin area. People are moving here, and they all need places to live.” We expect the Austin market to remain competitive throughout 2015. Sellers should be prepared to receive multiple offers on their home in a short period of time. An agent with strong negotiation skills can make all the difference in a multiple-offer situation. Buyers shouldn’t back down in this seller’s market. A skilled agent can help you bring a strong offer to the table that will help you stand out from the crowd. Our agents have all the experience you need on your side to be successful in the Austin real estate market. Contact us today to start working with one of our expert agents.

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