November 2015 Austin Market Report

Posted on Monday, December 21st, 2015 at 4:38pm.

November 2015 Austin Market Report

After five consecutive months of increases, Austin home sales slowed down this November. According to the latest numbers from the Austin Board of Realtors, just 1,814 single-family homes were sold last month, which is a four percent decrease from November 2014. This is the second time home sales have decreased in the Austin area in 2015, with the first occurring in May. Despite an overall decrease in home sales, the numbers for new, active, and pending sales in the Austin area all saw increases in November. A ten percent increase in the median price of Austin homes to $270,000 also yielded an eight percent increase in total dollar sales volume for November. Clearly, Austin’s market is still headed towards a strong finish in 2015. Take a look at the latest market report for November from the Austin Board of Realtors:

November 2015 Austin Area Market Statistics

  • 4% fewer single-family homes sold than to November 2014, with 1,814 homes sold
  • The median price of single-family homes is $270,000, up 10% since last November
  • 2,095 new single-family homes listed last month, or 1% more than November 2014
  • Homes spent 54 days on the market on average in November, compared to 55 days in 2014
  • 3% increase in active single-family home listings in November 2015 with 5,703 listings
  • 1,965 pending sales for single-family homes last month, or 4% more than November 2014
  • 2.4 months of inventory of single-family homes, unchanged since November 2014
  • $629,987,688 total dollar sales volume in November 2015, which is 8% more than 2014

Austin home sales may have decreased slightly in November, but the real estate market is still hotter than ever. Overall, home sales in the Austin area have been strong, so there’s no reason buyers and sellers shouldn’t continue to be active in real estate. If you’re thinking of selling your home, there couldn’t be a better time than now! The low monthly inventory at 2.4 months means there is a high demand for Austin area homes. If you’re considering buying an Austin area home, why not take advantage of the increase in new and active home listings? New homes are coming to the market every day ready to be found by the right buyer. With interest rates set to rise, now is also the perfect time to secure a low interest rate. Whether you’re buying or selling a home, our agents are experts in the Austin area and would love to answer your questions. Contact us today!

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