Vacant lots have also become scarce as builders expand their operations to meet demand. It’s a competitive market for buyers while sellers can expect strong interest in any property they put up on the market.
Homes across the Austin-Round Rock area are also going up in value.
The data found home prices increased by 10.8 percent in November 2013, compared to the same time the year before. November 2013 home prices though decreased by 0.6 percent from the previous month. Austin is on par with national home prices which increased 11.8 percent in November 2013 compared to the same month the year before.
This is the 21st month in a row that national home prices have shown an increase compared to the same month from the previous year.
More interesting stats from the report:
- 1,899 – Single-family homes sold, 14 percent more than November 2012.
- $219,530 – Median price for single-family homes, 10 percent more than November 2012.
- 51 – Average number of days single-family homes spent on the market, 16 days fewer than November 2012.
- 1,967 – New single-family home listings on the market, statistically unchanged from November 2012.
- 5,119 – Active single-family home listings on the market, 11 percent fewer than November 2012.
- 1,756 – Pending sales for single-family homes, two percent more than November 2012.
- 2.3 – Months of inventory* of single-family homes, more than half of a month less than November 2012.
- $555,757,542 – Total dollar volume of single-family properties sold, 24 percent more than November 2012.