Here are some Austin Area MLS 2013 Year-End Totals and what it means for you.

  • 27,298– Single-family homes sold, 19 percent more than 2012.
    • What’s driving this 19% increase? The answer lies in a statistic revealed by an Austin Demographer Ryan Robinson at a recent meeting of the Austin Young Chamber of Commerce. He claims 110 people are moving to Austin a day! They have to live somewhere!
  • 5,492 – Active single-family home listings on the market, 20 percent fewer than 2012.
  • 34,132– New single-family home listings on the market, nine percent more than 2012.
    • These two statistics are a reflection right out of your Microeconomics 101 Class – Supply and Demand. 9% more homes on the market and 20% fewer homes!

The Result?

  • $223,890 – Median price for single-family homes, nine percent higher than 2012.
  • $7,933,813,683 – Total dollar volume of single-family properties sold, 28 percent more than 2012.

The average days on the market was 19 days fewer in 2013 than it was in 2012.  Multiple offers are not uncommon, in fact- they have become the norm. Austin is made of many micro markets and the actual days on the market varies from one neighborhood to another. While the average number of days for 2013 was 50, the fact of the matter is that the far outlying areas tend to offset the more Central locations which have 0 to 5 days on the market.

The following sections describe trends in other sectors of the Austin real estate market.

Townhouses & Condominiums
The volume of townhouses and condominiums (condos) purchased in the Austin area in December 2013 was 217, which is 11 percent more than December 2012. In the same time period, the median price for condos was $221,000, which is five percent more than the same month of the prior year. When compared to December 2012, these properties spent 32 percent less time on the market, or an average of 50 days.

Over the course of 2013, 3,162 Austin condos were sold, which is 24 percent more than 2012; the median price was $195,840, or eight percent more than 2012; and condos spent an average of 52 days on the market, 22 days fewer than 2012.

Leasing
In December 2013, a total of 1,086 properties were leased in Austin, which is 12 percent more than December 2012. The median price for Austin-area leases was $1,380, which is six percent more than the same month of the prior year. In all of 2013, a total of 16,371 properties were leased in Austin, which is three percent more than 2012, and the median lease price was $1,400, or six percent more than 2012. These figures are derived from the Austin MLS and one needs to keep in mind that only a fraction of lease properties make it into the MLS.

If you are interested in more specific information regarding a neighborhood or region of Austin please contact me and I will be glad to send you timely, accurate and dependable information.