After three months of incredibly-hot days and an incredibly-hot real estate market, a break from the heat is finally here. The selling season is over and the market too is cooling a bit.
Comparing August 2011 with August 2010, it’s encouraging to see three consecutive months of year-over-year growth in sales volume.
Austin Real Estate Market
August 2010 vs August 2011
- $516,797,994 – Total dollar volume of single-family properties sold, 31% more than August 2010,
- $200,000 – Median price for single-family homes, unchanged from August 2010,
- 1,978 – Single-family homes sold, 33% more than August 2010,
- 215 – Condos and town homes sold, 16% more than August 2010,
- 79 – Average Days on market, 2 days longer than August 2010,
- 2,386 – New single-family home listings on themarket, 9% less than August 2010,
- 8,705 – Active single-family home listings on themarket, 22% less than August 2010,
- 1,789 – Pending sales for single-family homes, 19% more than August 2010.
Buying? The inventory of homes is extremely low, so you’ll need to get pre-qualified and be ready to act the moment your right home hits market. Competition is fierce and the best deals are gone in only a few days, with multiple offers, so send us your search criteria and we will set up a personalized MLS search that will send you email alerts the instant new listings matching your criteria hit the market.
Selling? We have 22% fewer homes on the market than this time last year. This is great news as there is less competition. Still, the market varies per Austin area, so send us the details on your home and we will prepare you a competitive market analysis (CMA) of your home’s value in today’s market
