The Overall Austin Market:
Sales of existing homes in the Austin area rose 16 percent in March. For the year, the number of home sales is an impressive 23% over 2012, and the average sold price is up 9% to $271,627. The number of active listings continues to lag;
currently we have 5095 listings, which is 26% less than a year ago. The Months of Inventory is at a low 2.9 months. It is an opportunity for Sellers, while the number of competing properties is comparatively small.
Thirty-year mortgage rates are at historical lows around 3.5%, and the only question today is how long rates will remain this low. The current rate is providing buyers with tremendous buying power, and is continuing to fuel buyer activity. New home sales are brisk, and builders are beginning to adjust their prices upward and reduce concessions to reflect the increased demand; this situation is making resale homes more appealing.
If you average the number of sales for the last 12 months and divide that figure into the number of current active listings, the result is called the number of Months of Inventory (MOI). In a balanced market, the MOI is between 3.5 and 4.5 months. This important figure is included for the Austin area and in each submarket below:
The Georgetown Real Estate Market:
- Average sold price – up 3.6% from a year ago to $246,532
- Number of Sales YTD – 15% greater than this time last year
- Number of Active Listings – down 37% from last March to 362 listings
- Months of Inventory – a balanced market at 3.4 MOI
The Round Rock Real Estate Market:
- Average sold price – up 1% from last March to $235,316
- Number of Sales YTD – up 30% compared to this time last year
- Number of Active Listings – 31% less than a year ago to 381 listings
- Number of Active Listings – steady from last month
- Months of Inventory – favoring sellers at 1.9 MOI
The Pflugerville Real Estate Market:
- Average sold price – up 7.2% from a year ago to $169,802
- Number of Sales YTD – up 28% compared to this time last year
- Number of Active Listings – down 39% from last March at 183 listings
- Number of Active Listings – down 2% from last month
- Months of Inventory – there is 1.8 MOI, favoring sellers
The Cedar Park & Leander Real Estate Market:
- Average sold price – up 6.7% to $220,330
- Number of Sales YTD – up 30% from this time last year
- Number of Active Listings – steady from last month at 312
- Number of Active Listings – down 34% from a year ago
- Months of Inventory – down to 1.8 months, favoring sellers
The North Central Austin Real Estate Market:
- Average sold price – 7% more than a year ago at $283,478
- Number of Sales YTD – steady from this time last year
- Number of Active Listings – 55% less than a year ago at 28 listings
- Months of Inventory – a seller’s market at 1.0 MOI
The North & Northwest Market:
- Average sold price – up 7.8% from a year ago to $320,021
- Number of Sales YTD – up 21% from this time last year
- Number of Active Listings – steady from last month at 115 listings
- Number of Active Listings – down 48.7% from a year ago
- Months of Inventory – dropping to 1.1 months; favoring sellers
The River North (FM 2222) Market:
- Average sold price – 3% more than a year ago to $521,237
- Number of Sales YTD – up 17% compared to this time last year
- Number of Active Listings – up 7% from last month at 135 listings
- Months of Inventory – up slightly to 3 MOI; favoring Sellers
The Austin Westlake Market:
- Average sold price – up 21% from a year ago to $905,534
- Number of Sales YTD – up 6% compared to last March
- Number of Active Listings – up 1% from last month at 139 listings
- Number of Active Listings – down 25% compared to last March
- Months of Inventory – slightly favoring sellers at 3.5 MOI
The Southwest Austin Real Estate Market:
- Average sold price – up 10.3% from a year ago to $257,360
- Number of Sales YTD – up 10.6% compared to this time last year
- Number of Active Listings – steady from last month to 153 listings
- Number of Active Listings – down 50.5% from a year ago
- Months of Inventory – a market favoring sellers at 1.1 MOI
Lake (South shore) Real Estate Market:
- Average sold price – up 2% from a year ago to $427,727
- Number of Sales YTD – up 23.6% compared to this time last year
- Number of Active Listings – up 3% from last month at 491listings
- Months of Inventory – up slightly to 6.3 MOI, an oversupply
Thanks for visiting and be sure to contact me with any questions! I will be pleased to provide you with a complete analysis of a property’s value using the latest comparables and market information.
Mary “B” Battaglia maryb@maryb.com Website 512-767-6787




