The Austin Board of Realtors published the latest statistics of home sales in the Austin MLS for the month ending January 2014. Not surprising, the fast clip of home sales increased again over January 2013 by 4% for Single Family Homes. The median price of Single Family Homes rose over last year by 7% to $211,800. With only 4,591 homes Actively for sale the inventory has shrunk 5% from inventory a year ago. Townhouses and Condo sales were up 13% over January 2013 and leases rose a whopping 15% more than last year same month! The median lease price in Austin is now $1,370/ mo.
If you are leasing you may want to consider buying a house soon. Interest rates are still low (4.3% today for a 30 year Fixed Conventional loan). Contact us today if you would like a complimentary Rent vs. Buy report.
