September 2013 Austin Market Report

Posted on Monday, October 21st, 2013 at 7:55am.

With three months left in 2013, Austin’s real estate market remains quite the hot commodity. September was another great month for Austin real estate with 2,391 single-family homes sold, marking the largest number of September home sales since 2005. The total sales volume for last month also nearly doubled since September 2012, coming in at about $688 million. This growth is undoubtedly related to the 13% median price increase of Austin homes to $223,000. The high demand for Austin homes continued into September with only 2.7 months of inventory available. This is a one month decrease from the previous year. Homes also spent an average of just 44 days on the market, which is 22 days less than September 2012. 12% fewer active listings were on the market in September with a total of 5,965 single family home listings. The number of new listings on the Austin market also rose 17% to 2,487 listings. With numbers like these, it’s a great time to be a buyer or seller in the Austin area. Here are the latest statistics from the Austin Board of Realtors for September 2013:

  • 34% increase in total single-family homes sold from September 2012 (2,391 homes in September 2013)
  • $688,347,381 total dollar volume of single-family homes sold- a 47% increase over last year
  • 13% rise in median home prices from the previous year brought the average to $223,000
  • 2.7 months of inventory available in September 2013, or 1 month less than the previous year
  • Homes spent 44 days on the market this year, down 22 days from September 2012
  • 17% increase in new listings with 2,487 in total
  • 12% less active listings than 2012 for a total of 5,965 listings in 2013
  • 1,978 pending sales for September 2013, or 6% more than September 2012

Last month we saw the most home sales in September since 2005, which further emphasizes how Austin’s real estate market has strengthened significantly over the past few years. Despite the median price for single-family homes increasing by 13%, Austin home buyers remained undeterred and nearly doubled the total sales volume of September 2012. Sellers should keep this figure in mind and price their home accordingly in order to attract the most attention from buyers. 12% less active listings on the Austin market and just 2.7 months of inventory means that the competition is steep for Austin area homes. Buyers who find a property they love need to move quickly before it disappears from the market. Whether you’re buying or selling a home, a strong Realtor can make all the difference in this hot market. Our team of experts can help you every step of the way, so contact us today for more information about buying or selling a home in Austin.

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