November 2014 Austin Market Report

Posted on Friday, December 19th, 2014 at 4:35pm.

November 2014 Austin Market Report

November was another record-breaking month for Austin real estate! According to the data released by the Austin Board of Realtors, November saw the highest homes sales and home prices in the history of the month. Austin home sales rose 6% since November 2013 with 1,934 homes sold. The median price of an Austin area home also rose 11% to $245,000. Despite an increase in new and active listings, just 2.4 months of available inventory was recorded for the month of November. Clearly, the demand for Austin area homes is still high as we get ready to ring in a new year. Take a look at the latest numbers from the Austin Board of Realtors:

November 2014 Austin Area Market Statistics

  • A 6% increase of single-family homes sold compared to November 2013, with 1,934 homes
  • The median price of single-family homes is $245,000, up 11% since last November
  • 2,067 new single-family homes listed last month, or 5% more than November 2013
  • Homes spent 54 days on the market on average in November, compared to 51 days in 2013
  • 9% increase in active single-family home listings in November 2014 with 5,561 listings
  • 1,893 pending sales for single-family homes last month, which is 8% more than 2013
  • 2.4 months of inventory of single-family homes, or 0.1 months less than November 2013
  • $601,903,348 total dollar sales volume in November 2014, which is 12% more than 2013

With higher prices and high demand, it’s a great time to be a home seller in the Austin area. Buyers shouldn’t back down in this seller’s market, however. With an increase in active and new listings to the Austin market, there's more competition and perhaps even deals to be found. Working with an expert Realtor with years of experience navigating the Austin market can make a huge difference when it comes to finding your dream home. If you have any questions about buying or selling a home in the Austin area, contact us today!

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