The Austin Board of Realtors (ABOR) released its January 2012 statistics on February 21st. The good news is home sales are up 10% this January as compared to January 2011. Here's a snapshot of the Austin area real estate market based on ABOR's data:
ABOR's Chairman noted "January marks the eighth straight month in which the volume of home sales in Austin has outpaced the previous year and the inventory of homes has decreased.” That's good news for Austin - especially for those trying to sell their homes - but for buyers, this data means we are in a seller's market. In fact, the inventory of available homes right now is the lowest ABOR has seen since 2009, when they started tracking the data. At 4.1 months of inventory (where 6.5 months is balanced supply and demand according to the Real Estate Center at Texas A&M University), there are less homes available from which buyers can choose. If you are considering a purchase in the Austin area, now is a better time than ever to find a Realtor who has experience representing buyers and that understands the market. With limited homes available, you need an expert on your side to help you secure the home you want for the best price possible. Reilly Realtors has an expert agent ready to assist you! Call us at 512.600.1800 today.