July market statistics affirm what we as Austin real estate brokers have felt throughout this month – prices and number of home sales, like Austin’s temperatures, continue to climb.
The median home price is now at $228,250, which is 8% more than this time last year. There were 35% more single family homes sold in 2013 than 2012. This was the busiest month for home sales in history!! The 3.5 job growth rate and the vibrant economy in Austin and Central Texas are behind this strong real estate market.
The market shows no signs of cooling off – even with 22% more new properties on the market in July 2013 than the same period last year homes are selling more quickly than they did a year ago. There’s no relief from this hot market if you are a renter – there were 9% more properties leased in July 2013 Than July 2012. Rentals are also moving extremely quickly and spending 20% less time on the market than a year ago.
The average number of days an Austin home spends on the market this year is a mere 41, which is almost HALF the number of days it took to sell a home in July 2012, when it took 64 days.
Bottom line: whether you are buying or selling…or leasing…in Austin, be ready to make a quick decision, because – much like ice in your glass of Deep Eddy Sweet Tea - the properties available to choose from don’t last long this summer!
Keep Austin Weird Homes
Theresa Bastian and Rodney Campbell run an Austin, TXreal estate brokerage established with the intention of doing good business with good people. As Austinreal estate market experts, Theresa and Rodney can help you buy, sell, lease or invest in real estate in and aroundAustin,TX.
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