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Article from Real Estate Rama
Austin-area home sales up 26 percent in February, median price up seven percent
March 20, 2013by RealEstateRama
Austin Board of REALTORS® releases real estate statistics for February 2013
AUSTIN, TX – March 20, 2013 – (RealEstateRama) — The Austin real estate market continued to gain steam in February, according to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS® (ABoR). As cited in the report, the volume of home sales in Austin outpaced last year significantly and the price for Austin-area homes continued to rise.
According to the report, 1,626 single-family homes were sold in the Austin area in February 2013, which is 26 percent more than February 2012, and the total dollar volume of single-family properties sold was $430,324,152, or 32 percent higher than the same month last year.
Cathy Coneway, 2013 Chairman of the Austin Board of REALTORS®, explained, “Strong demand for Austin homes continues, but the number of listings on the market remains consistent. This has led to steady increases in price while keeping housing inventory at record lows.”
In February 2013, the median price for Austin-area homes increased to $208,500, which is seven percent more than the same month in 2012. Additionally, the market featured 2.6 months of inventory in February 2013, which is 1.6 months less than February 2012.
The market also featured one percent more new listings, 25 percent fewer active listings and 15 percent more pending sales in February 2013 compared to the prior year. On average, homes spent 71 days on the market, which is a decrease of 15 days from one year prior.
February 2013 Statistics
1,626 – Single-family homes sold, 26 percent more than February 2012.
$208,500 – Median price for single-family homes, seven percent more than February 2012.
71 – Average number of days single-family homes spent on the market, 15 days fewer than February 2012.
2,574 – New single-family home listings on the market, one percent more than February 2012.
5,121 – Active single-family home listings on the market, 25 percent fewer than February 2012.
2,223 – Pending sales for single-family homes, 15 percent more than February 2012.
2.6 – Months of inventory* of single-family homes, 1.6 months less than February 2012.
$430,324,152 – Total dollar volume of single-family properties sold.
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My Intro in 2007:
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My husband Rod and my kids;Rodney 23,acquired Kylee through marriage to Rodney and she is the best daughter in law ever! Elyse 22, Kyria 19, Nikka 16, Joseph 12, Luke 9. They all are my favorite!