January 2014 Austin Market Report

Posted on Monday, February 24th, 2014 at 8:38am.

If you thought the Austin real estate market would slow down in 2014, think again! January 2014 showed a promising start for the rest of the year with solid increases in homes sold and total sales volume. According to the recent market statistics released by the Austin Board of Realtors, 1,449 single-family homes sold last month. That’s 4% more than January 2013. Total sales volume also increased 8% to $393,536,808. Following the same trend from 2013, the median price of an Austin area home rose 7% to $211,800. Austin homes continued to sell fast despite rising prices. Compared to 2013, homes spent nine days fewer on the market at 63 days. The months of inventory for Austin homes also dropped to just 2.0 months for January 2014. Even though January is usually one of the slowest months for real estate, Austinites kept the market hot. Take a look at the latest statistics from the Austin Board of Realtors:

January 2014 Austin Area Market Statistics

  • 1,449 single-family homes sold last month, which is 4% more than January 2013
  • 7% increase in median price of single-family homes to $211,800
  • $393,536,808 total dollar sales volume for January 2014, or 8% more than the previous year
  • 0.5 fewer months of inventory in January 2014 than January 2013 at 2.0 months
  • Homes spent 63 days on the market last month, or 9 days less than January 2013
  • 2,337 new listings on the market in January 2014, which is 4% more than January 2013
  • 7% fewer active listings than January 2013 at 4,591 listings
  • 1,946 pending sales last month, or 5% less than January 2013

Based on these numbers, Austinites can expect the trend of steady growth established in 2013 to continue throughout the rest of this year. With increasing numbers like these in January, we can expect the Austin market to rise with the summer temperatures as 2014 rolls along. Homes are spending fewer days on the market, so it’s important for buyers to be aggressive. A strong Realtor can help you negotiate the best price and secure the home of your dreams. Sellers should be wary of the low inventory and high demand for Austin homes. Having a talented agent on your side can make all the difference as you field multiple offers on your home. Whether you’re buying or selling, we have the expert agents that can help you navigate the Austin real estate market. Contact us today to get started working with one of our top Realtors.

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