We know that Austin is a great place to live and the most recent real estate stats reveal that it’s getting better all the time.
In fact, the upward spike in sales is breaking a few records. Even among the most die-hard fans of Austin real estate that you could ever hope to meet – such as ourselves – the most recent market stats are nothing short of head-turning.
The Austin Board of REALTORS® recently reported that 37 percent more homes sold in October of this year than in October 2011, and the total dollar volume of single-family home sales in October was 51 percent greater than October of 2011. This is big news even for the Austin market, which has seen 17 months of increasing sales.
What does this mean for you?
The Austin market is hot. People want to live here and as rising demand results in more and more properties getting snatched up, the supply of available homes drops – causing prices to rise. The median price of an Austin-area home increased to $199,320 in October – a 5 percent jump over the past year. Prices rose by a lot more in some of the hottest neighborhoods. And get this: the months of available inventory in our market is lower than it’s been at any time in the past decade.
In other words, a lot more homes are selling, they are selling faster, and prices are trending higher than in recent years. The market has rolled out a red carpet for you.
Have you heard of the GoodLife Team Area Competition Report?
It’s a new twist on the old school CMA that shows sellers what they may get for their home in a fast moving, appreciating market.
And if your buying, check out our GoodLife Team Direct Buyer program.The reports are free, so just fill out the contact out form on this page and we will contact you.