February 2013 Austin Real Estate Market Update

Austin Real Estate Market Statistics February 2013

The Austin housing market has been very strong, posting positive growths for almost 2 straight year.  It seems that every month, Austin is being named as one of the top places to live in the United States.  Here are a few examples:

• Austin is the number one city in the nation for job growth.
• NerdWallet.com named Austin its Top City for Job Seekers.
• Austin was the second best-performing city, according to the Milken Institute.
• Trulia says Austin will be one of the healthiest housing markets in 2013.
• Forbes ranked Austin eighth on a list of cities where a paycheck stretches the furthest.

Real Estate Statistics for Austin | February 2013

According to the Austin Board of Realty, here are the February 2013 Statistics

• 1,626 – Single-family homes sold, 26 percent more than February 2012.
• $208,500 – Median price for single-family homes, seven percent more than February 2012.
• 71 – Average number of days single-family homes spent on the market, 15 days fewer than February 2012.
• 2,574 – New single-family home listings on the market, one percent more than February 2012.
• 5,121 – Active single-family home listings on the market, 25 percent fewer than February 2012.
• 2,223 – Pending sales for single-family homes, 15 percent more than February 2012.
• 2.6 – Months of inventory* of single-family homes, 1.6 months less than February 2012.
• $430,324,152 – Total dollar volume of single-family properties sold, 32 percent more than February 2012.

The 2.6 months of inventory (6 months or less is a seller’s market) and the 71 average days on market, along with the increase in median price, makes right now a great time to sell a house.

Austin Housing Market Stats | February 2013 vs. Last Year

Here is how the Austin market is doing in February 2013 compared to February 2012

• 37.38% decrease in homes actively for sale compared to 3/11/12
• 16.18% increase in homes pending sale compared to 3/11/12
• 18% increase in the number of single-family homes sold
• 4.82% increase in median single-family sold price per square foot
• 8.17% increase in median sold price (total dollars)
• 26.39% decrease in the time it is taking to sell a home
• 8.62% increase in number of homes for lease compared to 3/11/12
• 8.53% decrease in the number of homes leased
• 7.78% increase in lease price per square foot
• 11.11% decrease in the time it is taking to lease a home

What do you think of real estate in Austin?  Leave a comment below.

About the Author:  Shenoah Grove is a Realtor and Broker (license #518223) and owner of Hippie Hollow Homes, a local Austin real estate company, that provides both traditional and non traditional real estate services.  Mrs. Grove is also the President of the Austin Real Estate Networking Club (Austin RENC), which meets on the 3rd Thursday of every month at the Norris Conference Center from 6-10pm.

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