June 2013 Austin Market Report

Posted on Monday, July 22nd, 2013 at 12:29pm.

The Austin real estate market is going strong, and June’s numbers are here to prove it.  The June 2013 Area Market Statistics released by the Austin Board of Realtors show that the Austin real estate market saw another month of big sales. One of the most impressive facts gleaned from the new statistics is the fact that the housing inventory of June 2013 was down 1.5 months from the previous year, coming in at only 2.9 months.  June 2013 also saw 22% fewer active listings and only an 8% increase in new single-family homes listed on the market.  Simply put, there are not enough homes on the market to meet the growing demand for homes in the Austin area.  Compared to June 2012, June 2013 saw a 7% increase in the total number of single-family homes sold at 2,767, as well as a rise in the median price to $235,000.  The total dollar volume of home sales was up 15% from last June at $841,090,524.  Overall, June 2013 had the highest level of June home sales in the past six years. Take a look at the latest statistics from the Austin Board of Realtors' June 2013 Market Report:

June 2013 Austin Area Market Statistics

  • 2,767 single-family homes were sold in June 2013, a 7% increase from the previous year
  • 3,613 new single-family homes were listed in June 2013, or 8% more than June 2012
  • 22% decrease in active single-family home listings than the previous year at 6,046 listings
  • 1.5 months less of inventory of single-family homes compared to last June, with 2.9 months in June 2013
  • Single-family homes spent 15 days less on the market than last year, for an average of 43 days
  • The median price of a single family home went up 8% since June 2012 to $235,000 in June 2013
  • The total dollar volume of homes sold for this June was $841,090,524 - a 15% increase over the previous year

The June report also included numbers for the first half of 2013.  So far, 13,159 single-family homes have been sold and have brought in a total dollar volume of $3,838,604,341.  This is an increase of 31% compared to the first half of 2012, and is already 62% of the total number of home sales for all of 2012.  Based on these numbers, it seems the rest of 2013 will continue to be a great year for Austin real estate:

Mid-year 2013 Austin Area Market Statistics

  • 19% more single-family homes were sold than this time last year for a total of 13,159 homes
  • 19,018 new single-family homes were listed on the market - 5% more than mid-year 2012
  • 5,426 active single-family home listings - a 25% decrease compared to the first half of last year
  • 9% increase of the median price for single-family homes for mid-year 2013 at $224,000
  • Total dollar volume of $3,838,604,341 in single-family homes sold - a 31% increase from 2012

The numbers don’t lie- now is a great time to be a buyer or seller in the Austin area.  With the housing inventory at only 2.9 months, there are not enough homes to meet the current demands of buyers. With homes only lasting 43 days on the market, sellers that price their homes correctly should expect to see offers quickly.  For a buyer, 22% fewer active listings on the market means that many other buyers are also on the hunt for the perfect home at the same time they are.  It's important for buyers to be aggressive in this seller’s market and be prepared to negotiate a good price for the home of their dreams.  Whether you’re buying or selling a home, we have the Realtors who can help you successfully navigate through all the steps of the process.  Contact us today for more information about buying or selling a home in Austin.

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