Realty Austin Market Update for March 2014

Posted by Realty Austin

market-stats-update-march-2014-smallAustin Board of REALTORS reported that 2,262 single-family homes were sold in the Austin area in March 2014–7% more than March 2013!  The median price for Austin-area homes was also up 6% at $231,750.

Will the currently strong housing market in Austin continue to see growth across all segments? Austin’s population and job growth keep escalating and so does the number of homes for sale in this great city! This market doesn’t look to be slowing anytime soon, so get ready for a continuing busy season in Austin, Texas real estate!

Inventory reduced 0.4 months from 2.6 months in March 2013 to 2.2 months in March 2014. Homes are selling 13 days faster spending an average of 51 days on the market.

Austin’s housing market increased its activity again selling 12% more with $670,9999,680 in total sales, listing steadily from last years numbers with 3,211 new homes on the market, and going under contract with 3% fewer pending sales in March 2014 compared to the prior year.

Austin Market Stats Infographic by Realty Austin

Austin Real Estate Market Snapshot

March 2013 vs March 2014 Market Statistics

  • $670,999,680 – Total dollar volume of single-family properties sold, twelve percent more than March 2013.
  • $231,750 – Median price for single-family homes, six percent more than March 2013.
  • 2,262 – Single-family homes sold, seven percent more than March 2013.
  • 51 – Average number of days single-family homes spent on the market, thirteen days fewer than March 2013.
  • 3,211 – New single-family home listings on the market, two percent fewer than March 2013.
  • 4,964 – Active single-family home listings on the market, five percent fewer than March 2013.
  • 2,669 – Pending sales for single-family homes, three percent fewer than March 2013.
  • 2.2 – Months of inventory* of single-family homes, 0.4 months less than March 2013.

March 2013 vs March 2014 Luxury Market Statistics – Home Sales over $1M

  • $52,823,958 – Total dollar volume of $1M+ properties sold in March 2014.
  • $1,600,726 – Average price for $1M+ properties, $15,569 higher than March 2013.
  • $1,400,000 – Median price for $1M+ properties, $42,500 higher than March 2013.
  • 554 – Active $1M+ homes for sale in the Austin MLS.
  • 33 – $1M+ properties sold, 7 less than March 2013.
  • $328 – Average price per square foot for $1M+ properties, $14 more than March 2013.
  • 101 – Average number of days that $1M+ properties spent on the market, 24 days less than March 2013.
  • 8.7 – Months of inventory of $1M+ properties, 1.6 months more than March 2013.
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