Huge Increase in September Home Sales

Posted on Friday, October 19th, 2012 at 11:47am.

Homes Sales Increase   The numbers are in. This September has been a real record breaker.  On October 18, 2012, the Austin Board of REALTORS® confirmed that September was the 16th straight month of sales volume increases for homes in the Austin area. Additionally, September marked the eighth straight month of increasing median prices for homes in the area. Given that this is the season in which the real estate market traditionally cools down, this report is particularly significant. ABOR reports that the market has significantly grown in terms of price and number of homes sold since last September. Consider this, in September 2011 the median price for single-family homes was $188.100. In September 2012, that number rose more than 5 percent to an impressive median price of $198,250. In a similar fashion, home sales also grew tremendously. In September 2011, 1,646 single-family homes were sold in Austin. This past month, 1,806 single-family homes were sold, for an increase of 10 percent. And if you think those numbers are jaw-dropping, then consider this.There were 6,812 active listings this September, which is 1,678 less than September 2011. At the same time, the average sales price rose by $13,137. What we’re seeing is a smaller inventory, but even greater demand. This leads to one thing- a strong real estate market, especially if you’re planning on selling. Finally, September 2012’s dollar volume of single-family properties sold totaled at $474,026,238- a 16 percent increase from September 2011. If that doesn’t mean a strong real estate market, I don’t know what does. For more information on the Austin real estate market, be sure to regularly visit our website and neighborhood pages. And if you’re interested in buying or selling with the best in Austin real estate, be sure to contact Reilly Realtors.

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