The overall Austin market
- Compared to last February, the number of single-family homes sold in the Austin area is up 4%. The average sales price for single family homes is up 1% to $244,348 and the median price is unchanged compared to this time last year at $189,500. The total number of single-family listings in the Austin MLS is unchanged from last February at 9335 units.
- 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 the number of Months of Inventory (MOI). In a balanced market, the MOI is between 3.5 and 4.5 months. Currently, the MOI in the Austin market is at 6.9 months, which favors buyers. The average days on the market for single-family homes to sell has dropped slightly to 79 days.
The Austin area was recently named by CNN Money as the #1 metro area in the nation to recover economically. Dallas and Houston were also in the CNN top Ten areas, which reflects the strength of the Texas economy as a whole. The combination of a talented workforce, strong business climate and high quality of life will continue to serve the Austin area well into the future.
The recently extended tax credits for homebuyers will increase our market activity through the Spring, and current activity bears this out. This is indeed a special time; with prices still suppressed a good selection of homes and interest rates hovering near record lows at 5%, this market is a wonderful opportunity for buyers and move-up sellers alike.
The Georgetown Real Estate Market:
Average sold price – up 5.8% from a year ago to $237,829
Number of Sales YTD – up an impressive 53% compared to this time last year
Number of Active Listings – down 10.7% from December to 559 listings
Months of Inventory – there is 7.6 months of inventory; an oversupply
The Round Rock Real Estate Market:
Average sold price – up 3% from December to $213,545
Number of Sales YTD – up 16.8% compared to this time last year
Number of Active Listings – down 6.9% from December to 762 listings
Months of Inventory – there is 4.9 months of inventory; an slight oversupply
The Pflugerville Real Estate Market:
Average sold price – down slightly from a year ago to $160,523
Number of Sales YTD – down 1% compared to this time last year
Number of Active Listings – up 13.6% compared to December to 441 listings
Months of Inventory – there is 4.5 months of inventory; a slight oversupply
The Cedar Park & Leander Real Estate Market:
Average sold price – up 2.9% from a year ago to $209,236
Number of Sales YTD – up 2.4% compared to this time last year
Number of Active Listings – down 30 % from December to 518 listings
Months of Inventory – decreasing to 5.2 months; a slight oversupply
The North & Northwest Market:
Average sold price – up 14.5% from a year ago to $298,133
Number of Sales YTD – down 17% compared to this time last year
Number of Active Listings – down 10.4% from December to 334
Months of Inventory – there is a fairly balanced 4.2 months of inventory
The River North (FM 2222) Market:
Average sold price – down 11.7% from a year ago to $466,107
Number of Sales YTD – down 9.7% compared to this time last year
Number of Active Listings – down 20% from December to 233 listings
Months of Inventory – there is 8 months of inventory; an oversupply
The Austin Westlake Market:
Average sold price – up 1.9% from a year ago to $717,389
Number of Sales YTD – up an impressive 53% compared to this time last year
Number of Active Listings – down 22% from December to 245 listings
Months of Inventory – there is 8.4 months of inventory; an oversupply
The Southwest Austin Real Estate Market:
Average sold price – down 1.7% from a year ago to $221,886
Number of Sales YTD – up 11.2% compared to this time last year
Number of Active Listings – up 10% from December to 544 listings
Months of Inventory – there is very healthy 3.5 months of inventory
Lake (South shore) Real Estate Market:
Average sold price – up 21.6% from a year ago to $457,164
Number of Sales YTD – up almost 1% compared to this time last year
Number of Active Listings – down 13.4% compared to December at 635 listings
Months of Inventory – oversupplied at 12.4 months of inventory
Lake (North Shore) Real Estate Market:
Average sold price – down 21% from last year to $195,203
Number of Sales YTD – steady compared to this time last year
Number of Active Listings – up 4.6% from December to 241 listings
Months of Inventory – there is 17.5 months of inventory; an oversupply
Tags: Austin market report, Austin real estate, Austin real estate statistics, Cedar Park market report, Georgetown market report, Lakeway market report, Northwest Austin market report, Round Rock market report, Southwest Austin market report, Westlake market report
