Housing Market Recap for 2013

The Austin Board of REALTORS recently released the housing market’s final statistics for 2013. The trend of strong growth continued last year with improvements in every key area of measurement. The number of homes sold in 2013 grew +19% over 2012, to 30,710 homes with an average sales price of $284,614 – 7.6% higher than last year. Two of the most significant metrics are average price per square foot – a better measurement of property appreciation than average sales price – and average day on market – the average amount of time homes sold for in Austin. The average price per square foot of homes sold in Austin in 2013 grew 9.4% versus 2012 to $133/sq.ft. Also, homes in Austin sold in 2013 in an average of 47 days, down 27% from 2012 the average time to sell was 65 days.

Downtown Austin

The strong 2013 housing market should see continued growth in 2014 as the demand for homes continues to rise while inventory of homes available for purchase struggles to catch up. These numbers are reflective of

the Austin area housing market as a whole and certain neighborhoods saw slightly stronger or weaker growth than the average. For specific information on your neighborhood, drop me a note and I’ll be happy to help! Considering selling this year? Check back for my upcoming post on knowing the BEST time to sell in 2014 (Can’t wait? Just give me a call…).

by Kyle Pfaffe, REALTOR®      e: KylePfaffe@kw.com      m: 512-636-9707      w: AustinHomes4You.com

The Kyle Pfaffe Real Estate Team

September Real Estate Update for Austin, TX

The Austin Board of Realtors recently finalized their numbers for September and those numbers bring more good news for the overall health of the Austin area housing market. In the Austin
area, 2,391 single-family homes were sold in September, a 34% increase vs 2012 and the most sales for September since 2005! The number of days a home was on the market in the Austin area in September was down 22% vs last September and sold in only 44 days. The median sales price this September rose more than 13% from last year to $223,000.

Downtown Austin

Almost more significant are the statistics surrounding the Austin areas housing inventory and will have a impact as we close out the year. This September, Austin had 2,487 new single-family homes come on the market, 17% more than last September, and a total of just under 6,000 total active single-family home listings, 12% less than last year this same month. All of this results in 2.7 months supply of single-family homes, 1 month less than September 2012. In a market balanced between supply and demand, there is about 6.5 months of supply. At only 2.7 months supply, Austin’s  market continues to be a strong seller’s market and is desperate for new listings!

If you would like information specific to your neighborhood, drop me a note and I would be happy to help. If you are considering selling your home and taking advantage of this great seller’s market, let me know and I would love to discuss how I can help sell your home for the highest net to you!

by Kyle Pfaffe, REALTOR®      e: KylePfaffe@kw.com      m: 512-636-9707      w: AustinHomes4You.com

The Kyle Pfaffe Real Estate Team