May 2014 Austin Market Report

Posted on Friday, June 20th, 2014 at 3:53pm.

May 2014 Austin Market Report

The summer selling season is in full swing in Austin and May’s numbers are here to prove it. According to the latest market report released by the Austin Board of Realtors, May was the first month in three years to record a higher number of active listings compared to the year before. Austin sellers were busy putting their homes on the market last month. May 2014 saw 4,002 new listings and 5,949 active listings come to the market. All this activity helped the available months of inventory in the Austin market to rise to 2.6 months from 2.3 months in April. Although this is the highest months of inventory seen since September 2013, this number represents a 0.1 month drop compared to May 2013. Home prices in Austin also rose 8% compared to May 2013 to a median price of $249,000. A total of 2,943 homes were sold in May, which resulted in a total dollar sales volume of $959,200,218. The Austin market just keeps getting hotter! Take a look at the numbers from the Austin Board of Realtors:

May 2014 Austin Area Market Statistics

  • 2,943 single-family homes sold in May 2014, which is 3% more than May 2013
  • 8% increase in median price of single-family homes in May 2014 to $249,000
  • 11% increase in total dollar sales volume since May 2013 to $959,200,218 in May 2014
  • Homes spent 4 days fewer on the market than May 2013 at 40 days in May 2014
  • 2.6 months of inventory available in May 2014, or 0.1 months fewer than May 2013
  • 4,002 new listings in May 2014, which is a 7% increase since May 2013
  • 4% increase in active listings to 5,949 in May 2014
  • 2,928 pending sales in May 2014, or 2% more than May 2013
While inventory continues to decrease and prices continue to rise, May 2014 showed some promising signs for Austin’s real estate market. The increase of active listings and months of inventory is a small indication of growth in Austin’s available housing. There is hope for buyers looking to call Austin home, despite rising prices. An increase in active listings means there are more homes coming on the market every day. An experienced Realtor can help buyers navigate Austin’s competitive market and secure the perfect home. Sellers, don’t wait to make your home one of these active listings. An expert Realtor can help you field multiple offers and get the best value for your home. At Reilly Realtors, we have the agents that can help you whether you’re buying or selling. Contact us today to start working with one of our top agents.

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