November 2013 Austin Market Report

Posted on Friday, December 20th, 2013 at 2:54am.

According to the latest market report released by the Austin Board of Realtors, Austin real estate is on track to finish strong in 2013. Although the holiday season is usually one of the slowest periods for real estate, November 2013 saw the highest number of home sales for that month since 2006. 1,899 single-family homes were sold, which is a 14% increase over 2012. The median price of an Austin-area home also rose 10% from November 2012 to $219,530. Despite this rising number, November continued a 30-month streak of sales volume increase.  The total sales volume for single-family homes came in at $555,757,542, up 24% from the previous year. Furthermore, Austin’s inventory of homes fell to a historical low last month with only 2.3 months of inventory. There were also 11% fewer active listings and a 2% increase in pending listings in November. Take a look at the latest numbers from the Austin Board of Realtors:

November 2013 Austin Area Market Statistics:

  • 1,899 single-family homes sold in November 2013, up 14% from November 2012
  • 10% increase in median price for single-family homes at $219,530
  • Total dollar volume of single-family homes sold: $555,757,542, which is 24% more than last year
  • 2.3 months of inventory for single-family properties, or half a month less than November 2012
  • Homes spent 51 days on the market on average last month compared to 16 days fewer in 2012
  • No change in new listings between this November and last year with 1,967 listings
  • 11% decrease in active listings since November 2012 at 5,119 listings in November 2013
  • 1,756 pending listings last month, or 2% more than the same month in 2012

 With the highest home sales in seven years and an ever-increasing sales volume, the buzz of activity in the Austin real estate market this November has pushed through the slow holiday season. Austin real estate experts expect 2014 to be another strong year for the Austin market. So how does all this affect area home buyers and sellers? If you’re ready to sell, now is a great time! With prices on the rise and low inventory throughout 2013, sellers with a fair price for their home could attract the most attention from demanding buyers. At the same time, buyers should be wary of the most recent price averages to make sure they’re getting the best deal. Active listings are down and pending sales are up, so buyers should move quickly to secure the perfect home. Whether you’re buying or selling a home, we have the experts to help you every step of the way. Contact us today to start working with one of our top agents.

Leave a Comment