October 2014 Austin Market Report

Posted on Friday, November 21st, 2014 at 5:01pm.

October 2014 Austin Market Stats

October was another great month for Austin real estate! Home sales in October jumped 16% since last year, which is the largest year-over-year increase in home sales of 2014. The 2,403 single-family homes sold in October also represent a record number of home sales for the month. New and active listings in Austin rose 11% each, and pending listings were up by 9%. As a result of all this activity, the available months of inventory in Austin rose 0.2 months to a total of 2.7 months. In addition to rising home sales, the median price of an Austin home rose 11% to $240,000, which is an all-time high for October. October was a busy month for the Austin market. Take a look at the latest numbers released by the Austin Board of Realtors:

  • 2,403 single-family homes sold in October 2014, or 16% more than October 2013
  • 11% increase in the median price of a home from the previous year to $240,000
  • 29% rise in total dollar volume of single-family homes sold to equal $747,400,284 in 2014
  • Homes spent an average of 50 days on the market this October, which is 2 days more than 2013
  • 2.7 months of inventory available in October 2014, or 0.2 months more than the previous year
  • 11% more active listings than 2013 with 6,170 listings in 2014
  • 2,850 new listings for October 2014, which is an 11% increase over October 2013
  • 9% more pending sales in October 2014 for a total of 2,255

It’s encouraging to see more and more homes enter the Austin market each month to meet the demands of local buyers. However, with prices on the rise, buyers can benefit even more with help from an experienced agent. A Realtor can be the difference between getting a good price and overspending on a home. For sellers, a fair price will help catch the attention of potential buyers right away. If you are considering selling, one of our agents would be happy to help you determine the value of your property. If you have any questions about buying or selling a home in Austin, please contact us today!

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