January was another fantastic month for Austin real estate. Marking the 20th straight month of sales volume increases, this past month has set up the Austin real estate market for another great year. In what is traditionally the slow season of real estate, Austin continues to break the norms as the market surges ahead from where it was only a year ago. For example, in January 2012, there were 1,055 homes sold in Austin. Compare this to 1,402 homes sold in January 2013 and you’ll find that the number of homes sold increased by 33% compared to the same month last year. Even more exciting is the fact that total dollar volume of single-family properties sold increased by 55% from the January 2012 total to more than $368,000,000 in January 2013! This past month also marked the most home sold in January since 2007.
With that said, here are the latest statistics from the Austin Board of Realtors:
- Median prices for single family homes rose 10% from January 2012 for an average price of $197,900 in January 2013.
- There were 2,252 new single family homes on the market, down 1% from Jan 2012.
- Average number of days single-family homes spent on the market: 71 (down 14 days from Jan 2012).
- 25% decrease in active single-family homes on the market from January 2012. January 2013 had only 4,947.
- 25% increase in pending sales for single-family homes from January 202. January 2013 saw 2,045 pending sales.
- 2.5 Months of inventory of single-family homes- the lowest inventory figure in Austin in ten years.
- Total dollar volume of single-family properties sold: $368,289,978.
- Single-family homes sold: 1,402.
As we mentioned, with this being the traditional slow season of real estate and all indications pointing towards a strong market in 2013, if you’re thinking of moving, you shouldn’t delay. The great news is if you’re trying to sell your home you shouldn’t have a problem doing that. And if you’re planning on buying a home, it would be wise to buy sooner rather than later. If you’re ready to find the perfect home, start your search by clicking here or contact us, today!