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October 2013

Found 6 blog entries for October 2013.

Fall is here, and what an amazing time of year in Austin as the city blossoms with renewed energy brought on by cooler weather and all of the excitement the ACL Music Festival brings to our great city. 

 

 

In October, the Austin Tx housing market traditionally starts to slow from the peak activity of the summer months.  Our local housing market is seeing a slight drop in activity consistent with seasonal demand patterns.  This is good news if you're looking to buy a home in Austin, as there is less competition for homes. We're also seeing interest rates trending downward, which is great news for both buyers and sellers in the Austin Tx housing market.

 

Let's take a quick look at the market numbers for September 2013.

 

Market

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The Dog Days of Summer are upon us and the only thing hotter than the Texas summer heat is the Austin housing market. While the national real estate market is just moving into a slow recovery, the Austin real estate market is hotter than ever. Home values continue to climb and the amount of time it takes to sell continues to shrink.
 

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Let's take a quick look at the Austin home sale market numbers for July 2013.

 

Market Snapshot (city of Austin)

  • 1283 Single-family homes sold, 2% more than July 2012.
  • $380,619 - Average price for homes was 6% more than July 2012.
  • 29- Average number of days that single-family homes spent on the market, 40% fewer days than the same month in 2012. 
  • 99.2% Sales Price/Original List Ratio, 2%
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We are just over a week away from the official beginning of summer (June 21st), but with temperatures already in the mid 90's, don't bother trying to convince anyone that it's still spring.  Summer marks the busiest time of the year in the housing market as families move-up to a larger home or relocate while school is out.  The largest number of homes are sold during the summer months with activity peaking in August, which historically delivers both the largest sales volume and highest average price of any month.

Rising interest rates are the major story line in the Austin Tx real estate market. The average rate on a 30-year fixed mortgage is now at 4%, up from a historic low of 3.35% in January.  This small jump in rates wipes away $23,000 in buying

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It's springtime in Central Texas and life is good this April in Austin Tx.  We've been getting much needed rain, the bluebonnets are beginning to bloom and the days are growing longer. 

 

April traditionally kicks off the home buying season Austin, and the numbers from March show the Austin Tx housing market is not losing any of the momentum gained in the first quarter of 2013.  Steadily improving employment numbers, rising consumer confidence, and low interest rates are fueling a very healthy local housing market. 

 

So let's take a quick look at the real estate sales numbers for Austin in March 2013.

 

Market Snapshot (city of Austin Residential Home Sales)

  • 877 Single-family homes sold, 7% more than March 2012.
  • $365,133 -
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March is here and the Austin area housing market is really heating up.  In fact, the market is on fire.  In many areas of Austin Tx, sellers are receiving multiple offers on the first day on the market.  I wrote an offer this morning on a home that had 17 offers after 3 days on the market.  For sellers, there has never been better a time to sell.  For buyers, you need to be prepared to be aggressive and enlist the service of an extremely experienced agent who is skilled at operating in this type of competitive market.  So let's take a quick look at the market numbers for February 2013.

 

Market Snapshot (city of Austin Home Sales)

  • 698 Single-family homes sold, 12% more than February 2012.
  • $319,196 - Average price for homes was 3% more than
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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."


Market Snapshot  

  • 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
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