There are many great Austin area homes for sale. Click here to perform a full home search, or if you’re thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today’s market. You may also call me at (512) 537-6739 for a FREE home buying or selling consultation to answer any of your real estate questions.
The Real Estate Market in Austin, TX: How You Can Profit
As we finish up the first month of the New Year, the numbers for 2013 have come in! After looking at what the Austin market saw in 2013, some of the numbers blew my mind. This really shows us that 2013 was by far the best year of the decade in regards to real restate. The market is changing and growing for the better but 2014 is on fire and on its way to be a better year than 2013.
When comparing 2013 to 2012, 27,000 homes sold in 2013 giving us a 19% increase over the previous year. Also, the median sold price in 2013 was $223,000, giving us a 9% increase over 2012. The average days on market in 2013 was 50 days; that’s 19 days less than the previous year. In 2013, we had an increase of 9% homes that came onto the market for sale compared to 2012.
Basically, in 2013 we had 9% more people come out to sell their home and yet 19% more homes sold in a shorter amount of time for a higher average price! There are 28,000 pending single family homes and the total dollar volume for sold property in 2013 was $8 billion in Austin. That’s 20% more volume sold than 2012!
That is a dramatic increase between the two years and we’re expecting the same results this year. We already back to the multiple offer situations making it a little tougher for buyers. If you don’t want to get involved in multiple offer situations, there is a lot of new construction going up. Building a new home is great idea right now. Additionally, there is a lot of pocket-listing inventory; our team personally has 29 coming soon properties that are ready to sell and haven’t been listed yet. With 10,000 realtors in the city of Austin, you can only imagine how much inventory is out there that the public doesn’t know about!
If you want to see if your perfect home lies in the pocket-listing inventory, give us a call and we would be happy to help! It’s going to be a great year. Thanks and have a great day!