Austin’s Ever Changing Market

photo 2 (8)According to the September 2014 Multiple Listing Service (MLS) report released October 21, 2014 by the Austin Board of REALTORS® (ABoR), Austin-area single-family home prices set a record for the month of September. Concurrently, the Austin-area single-family home sales rebounded from the previous two months of home sales declines, increasing 10% from September of last year.

The report further indicates that Austin-area homes continue to sell quickly with the average number of days single-family homes spent on the market at 44 days. This figure has remained consistent for two years and showed little change in the past four years. This along with continued gains in single-family home listings are having a positive effect on pending sales,

The report indicates that the volume of townhouses and condos purchased in Austin in September 2014 is down 4% from September 2013. However, in the same time period, the median price for condos was $205,500 indicating a 1% price increase in the same time period. These properties spent an average of 41 days on the market, two days fewer than last year and three days fewer than homes on the market. Leases in the Austin area are up 8% in September 2014 compared to last year.

The bottom line, people are still moving here in record numbers. This is the time to buy, sell or lease. Call me and let’s talk about this dynamic market. It is so incredibly dynamic. Inventory moves fast. I have to delete items out of carts on my MLS all the time because they are not there long. I have a lot of calls on properties that are already gone. Sometimes by the time they are marketed, they are already gone. This is definitely a seller’s market, but you have to buy to sell!

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