According to the Austin Board of Realtors and multiple listing service statistics (MLS), Austin home prices have hit an all-time high for the month of April. Austin’s competitive market continues, and with a 0.4 month decrease in housing inventory year-over-year – Austin is now at 2.3 months of inventory.
Bill Evans, 2014 President of the Austin Board of Realtors, made an important point when he said – “It can be tempting to think a market with high demand and rising prices is an ‘easy’ market, but that’s simply not true. Every market can be challenging and a ‘hot’ market like this one is no different,” Evans concluded. “Sellers need the best property information available to determine accurate valuations and counsel for handling complicated situations, like multiple offers. Buyers need to know immediately when new properties come on the market, so they can act fast and make informed decisions about offers. Austin REALTORS® are skilled in all of these areas and can help homeowners navigate these complicated situations.”
Summary of Austin’s April 2014 market data:
- 2,479 – Single-family homes sold, one percent more than April 2013
- $239,900 – Median price for single-family homes, six percent more than April 2013
- $308,752 – Average price for single-family homes, statistically unchanged since April 2013
- 45 – Average number of days single-family homes spent on the market, five days fewer than April 2013
- 3,481 – New single-family home listings on the market, two percent fewer than April 2013
- 5,305 – Active single-family home listings on the market, three percent fewer than April 2013
- 2,805 – Pending sales for single-family homes, six percent fewer than April 2013
- 2.3 – Months of inventory* of single-family homes, 0.4 months less than April 2013
- $765,396,208 – Total dollar volume of single-family properties sold, one percent more than April 2013
If you’re looking for your next home, have questions about how to navigate this market, or would like to be part of this hot real estate market in Austin, please reach out to us today! Be sure to take a look at www.vonaustin.com for more real estate resources.