Team Price > Search > Market Statistics > April 2012

Published May 14, 2012 / Team Price Real Estate

Sometimes the best answers aren't right under your nose. For example, the most popular market indicator is home prices. But prices are what we call a lagging indicator, because they reflect closed sales. Leading indicators are forward-looking. Watch activity related to list price received at sale, days on market and months supply of inventory to see how sellers might be regaining their pricing power. Favorable supply-demand trends may be ticking away from the buyer for the first time in years. Moral of the story: Price is but a single picture in the gallery.

  • New Austin Listings decreased 1.8 percent to 3,690.
  • Pending Sales were up 34.8 percent to 2,841.
  • Inventory levels shrank 26.8 percent to 8,679 units.

Prices enjoyed a boost.

  • The Median Sales Price increased 8.0 percent to $205,000.
  • Days on Market was down 21.2 percent to 64 days.
  • The supplydemand balance stabilized as Months Supply of Inventory was down 42.1 percent to 4.4 months.

Detailed Market Report (PDF)

When monitoring residential real estate activity, it is always important to keep tabs on the overall economy and job growth. Preliminary Q1-2012 GDP growth came in at 2.2 percent, which, while disappointing to some observers and slower than Q4-2011, still signals economic expansion and not contraction. Expedited bank processing and easing lending standards are also encouraging developments.

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