Strongest Summer the Austin market has seen since 2007
October 1, 2012 by West Austin Properties · Leave a Comment
Total home sales for the first 8 months of 2012 exceeded the number of homes sold during the first eight months of the previous three years. Monthly home sales in August increased 20%, the fifth month of year to year increases. In terms of total sales volume, this has been the strongest August the Austin market has seen since 2007.
To view the 13-page September Market Report, click here.
Market has peaked for the year, still mostly a Seller’s Market
August 15, 2012 by Laura Duggan · Leave a Comment
Austin is projected to add 600,000 people by 2020 and an additional 800,000 people by 2030.
In 18 years metro Austin will reach 3 million people!
This continuous population growth at the time of a major US recession combined with less
than normal new construction has made Austin a “Sellers Market” for homes below $600,000.
A Seller’s Market is defined as one with high buyer demand that results in slowly rising prices.
Good and well priced homes in this seller’s market usually receive an offer in a few days.
That is Austin, now. However as we enter the Fall months and relying on 8 years of history to
predict, expect demand to decline and home values again to stabilize.
To view the 13 page August Market Report click here.
Market reaching peak, starting to slow, still mostly a Seller’s Market
July 14, 2012 by Laura Duggan · Leave a Comment
A Seller’s Market is defined as one with high buyer demand that results in slowly rising prices.Good and well priced homes in this seller’s market usually receive an offer in a few days. That is Austin, now.
Currently, demand is high and inventory is low across ALL Zip Codes and Areas!
The average and medium prices of sold homes is rising due to the higher overall demand. From one year ago, the median price
of a home is up 7.5% These averages are increasing while sales of the highest end homes, over $1M, are stagnant.
To view the entire report by Price Band, Area and Zip Code Click here
May Austin Market Report Available
May 7, 2012 by Laura Duggan · Leave a Comment
Is the Austin real estate market starting to stagnate or just taking a breather?
- •Number of homes for sale are at seven year lows. This month there are 28% fewer homes for sale than last year and 34% fewer than 2010 – a big drop in inventory.
- •Demand for homes was stagnate during April, the first month of slow demand this year. Demand, number of homes sold compared to February, had increased in April for each of the last four years. Other data indicates this is not a long term trend.
- Months of Inventory is 4.36, defined as a “Normal Sellers Market” where there is normally “moderate appreciation.” This is an average for the Austin market as a whole. Price bands, Zip Codes and Areas all have different market dynamics. (See charts for specifics.)
- •The homes that did sell in April sold faster than the prior 4 years, with a average time on the market of only 67 days
- •The strongest Austin market segments are homes prices below $600K. For homes valued over $1M, there is an oversupply of houses and few buyers and this upper price range is in an “Extreme Buyers Market.”
To view the entire May Report click below, or the Market Report tab above:
http://westaustin.com/wp-content/uploads/2010/09/May-2012-Market-Report.pdf
