June 2014 Austin Market Report

Posted on Tuesday, July 22nd, 2014 at 3:05pm.

June 2014 Austin Market Report

June was another exciting month for Austin real estate! The continuing demand for Austin homes pushed sales to an all-time high for the month of June. Just fewer than 3,000 single-family homes were sold in Austin last month, which is a 13% increase from 2013. June also saw the highest level of available housing inventory in Austin since August 2013 at 2.8 months. In a market where demand for homes is higher than ever, that’s a huge increase! New listings for June were up 2% and active listings rose 6% compared to the same time last year. Area builders have been working hard this summer to bring thousands of new vacant lots and homes to the real estate market. Check out the latest numbers from the Austin Board of Realtors:

June 2014 Austin Area Market Statistics

  • 2,997 single-family homes were sold last month, or 13% more than June 2013
  • $252,520 was the median price for a home in June 2014, which is 7% more than June 2013
  • 2.8 months of inventory available in June 2014, compared to 2.9 months in June 2013
  • Homes spent 4 days fewer on the market than June 2013 at 39 days on average
  • 2% increase in new listings from June 2013 to 3,701 new listings in 2013
  • 6,426 active listings in June 2014, which is a 6% increase from June 2013
  • 2,797 pending sales in June 2014, or 1% fewer than June 2013
  • 21% increase in total dollar sales volume in June 2014 to $980,013,006

The June report also included the mid-year statistics for 2014. So far, 13,426 single-family homes have been sold in the Austin area, which is 3% more than the same time last year. All these sales have yielded a total dollar sales volume of $4,139,209,987 for the Austin real estate market. That’s 8% more than the mid-year total for 2013. If the rest of the year is this successful, then Austin is in for another record year for real estate. Take a look at the mid-year totals for 2014:

  • 13,426 single-family homes sold between January and June 2014, which is 3% more than the same time in 2013
  • 7% increase of the median price for single-family homes for mid-year 2014 at $239,900
  • 19,276 new single-family homes were listed on the market - 1% more than mid-year 2013
  • 5,327 active single-family home listings - a 2% decrease compared to the first half of last year
  • Total dollar volume of $4,139,209,987 in single-family homes sold – an 8% increase from 2013

It’s a great time to be a home buyer or seller in Austin. An increase in available inventory, as well as new and active listings, means there are more homes for Austin buyers to choose from. However, homes are only spending around 39 days on the market, so don’t be afraid to be aggressive in this competitive housing market. As for sellers, 2.8 months of inventory is still low in a market as hot as Austin’s. Don’t hesitate to add your home to the shrinking inventory and be prepared to receive multiple offers in a short period of time. Whether you’re buying or selling a home in Austin, we have the top agents to help you every step of the way. Contact us today to start working with one of our expert agents.

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