I just completed my yearly analysis of the Austin Area housing market comparing 2012 to 2011. Let me cut to the chase by sharing with you that the Austin Area housing market saw big gains in 2012!
Cathy Coneway, 2013 Chairman of the Austin Board of REALTORS®, explained, "2012 was the strongest year for the Austin housing market we've seen since the recession. Each month brought double-digit increases in home sales volume and double-digit decreases in active listings."
- 22,946 - Single-family homes sold, 19% more than 2011· $205,000 - Median price for homes 6% more than 2011
- 69 - Average number of days that single-family homes spent on the market, 15 days fewer than 2011
- 6,853 - Active single-family home listings on the market, 20% fewer than 2011
- 24,941 - Pending sales for single-family homes, 19% more than 2011
- $6,204,024,237 - Total dollar volume of single-family properties sold, 26% more than 2011
So what do these numbers mean?
There are fewer homes on the market for sale and high demand for housing. These means it's a great time to sell. If you are thinking of selling your home now might be the best time since early 2008. We are in a seller's market, where supply and demand favors sellers, especially those with great homes to sell.