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Austin Has Fewest Homes for Sale in 10 Years

by admin on April 30, 2012

Incredibly low inventory is driving a lot of what we see in the latest stats for the Austin area real estate market.

Take a look at the data and then watch the video of Krisstina Wise giving you the lowdown on what it means.

 
  • In March 2012, 1,852 homes sold – 16.7% more than March 2011, 47.1% more than Feb 2012
  • $259,434 – Average Sales Price of single family home in Austin
  • 7,274 – number of single family homes available for sale – 6% more than Feb 2012, but 20% fewer than March 2011
  • Fewest number of homes on the market this year to date since 2002! This is a 10 year low!
  • What this means for Sellers

  • 21% less inventory on the market
  • scarcity in the market
  • prices going up
  • now in a seller’s market
  • if you could not sell in the past, perhaps it is time to investigate selling now and sell in the first 2 weeks on the market
  • What this means for Buyers

  • there are deals in the market
  • have your financial affairs in order
  • get ready with your lender to write a contract in a multi-offer situation
  • be ready to write a contract, as soon as you see a house
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