March 2015 Austin Market Report

Posted on Tuesday, April 21st, 2015 at 4:57pm.

March 2015 Austin Market Report
Austin’s market just keeps getting hotter! Once again, Austin real estate has set records for home sales and home prices, according to the latest report from the Austin Board of Realtors. Last month, Austin home prices hit their highest point ever with a median price of $255,000. That’s a 10% increase compared to March 2014. Despite a rise in prices, Austin home sales rose 13% since March 2014 to a total of 2,440 homes sold. A 6% increase in new and active listings on the market also contributed to this rise in home sales. In addition, the rise in median home price helped yield an incredible 28% increase in total dollar sales volume for March 2015 to just over $816.8 million. There is a lot of activity happening in the Austin real estate market! Take a look at the latest numbers from the Austin Board of Realtors:

March 2015 Austin Area Market Statistics

  • 2,440 single-family homes sold in March 2015, or 13% more than last March
  • Homes spent 4 more days on the market than March 2014, with an average of 55 days
  • The median sales price of a home was $255,000, up 10% since March 2014
  • Total sales volume of $816,809,520 for single-family homes sold, which is a 28% increase from March 2014
  • 6% increase in new single-family home listings in March 2015 with 3,402 new listings
  • 6% increase in active single-family home listings compared to March 2014 with 5,274 listings
  • 2,812 pending single-family home sales in March 2015, or 5% less than last year
  • 2.2 months of inventory for March 2015, or no change since March 2014
This the third month in a row that we have seen rising home sales and rising prices in the Austin real estate market. Rising prices and a 5% increase in pending home sales show it’s a great time to be a seller in Austin. Sellers who price their home competitively can expect to see multiple offers from area buyers. An agent with strong negotiation skills is a great asset to have on your side when fielding multiple offers on your home. Buyers, don’t be intimidated by a multiple offer situation. An experienced agent can help you bring a strong offer to the table on the home of your dreams. Whether you’re buying or selling a home in Austin, our agents are the experts in Austin real estate. If you have any questions about the Austin real estate market, contact us today!

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