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July 2012 Austin Home Sale Statistics

Posted by James DeLoney on Monday, October 21st, 2013 at 6:57pm.

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% better than last July. 
This year, the median sales price in Austin Tx has increased 18% compared to 2012.  Southeast, South and Northwest Austin areas are leading the sales volume.  Homes in these areas are going under contract in an average of 8 days and multiple offer situations are common.  Real Estate experts agree that although it is a seller's market, the time to buy is now with interest rates expected to rise significantly.  Currently, the average mortgage rate is around 4.5% percent.

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