February 2016 Austin Market Report

Posted on Monday, March 21st, 2016 at 4:45pm.

February 2016 Austin Market Report

Home sales in Austin are heating up as we head into the spring selling season! According to the latest statistics from the Austin Board of Realtors, February saw a 2.9% increase in home sales compared to 2015 with 1,783 homes sold. February also continued the trend of rising home prices in the Austin area with an 8% increase compared to last year. Despite increases in new and active listings in the Austin area last month, the available months of inventory remained at just 2.1 months. Pending sales in Austin also rose 12% since February 2015. The demand for Austin homes clearly isn’t slowing down anytime soon. Take a look at the most recent numbers from the Austin Board of Realtors:

February 2016 Austin Market Statistics

  • 2.9% increase in single-family homes sold in February 2016 to 1,783 homes
  • $269,900 median price of a single-family home in February 2016, or 8% more than February 2015
  • Homes spent 62 days on the market on average, which is 3 days more than February 2015
  • 0.1 month increase in available months of inventory in February 2016 to 2.1 months
  • 4,871 active listings in February 2016, which is a 10% increase over February 2015
  • 2,793 new listings in February 2016, or 11% more than February 2015
  • 12% increase in pending sales from February 2015 to 2,346 listings in February 2016
  • 10% increase in total dollar sales volume in February 2016 to $593,758,953

We’re two months into 2016, and it looks like Austin’s market will remain competitive throughout the spring and summer. If you’re preparing to buy or sell a home in Austin this selling season, our best advice is to work with an experienced agent. Sellers, your agent can help you analyze your home’s value and list at the right price to help attract buyers. Buyers, don’t let rising prices stop you from purchasing an Austin area home. If you’re concerned about affordability, consider looking just outside Austin in areas like Buda, Round Rock, Cedar Park, and Kyle. Your agent can help you set up listing alerts to keep you informed of all the new homes hitting the market each day or week. If you’re still looking for the right agent to be on your side, our team of experts is ready to help! Contact us today to get in touch with one of our experienced Austin area agents.

Leave a Comment