Team Price > Search > Market Statistics > August 2012

Published September 11, 2012 / Team Price Real Estate

As the school-aged among us work their way back into classrooms across America, we continue to monitor key improvements in the local housing market with a keener eye. With two-thirds of 2012 complete, we're starting to get a sense for how the year will shake out. Headlines include encoraging phrases like "Recovery Takes Hold," "Home Prices on the Rise" and "Situation Eases for Sellers." Local market conditions can vary. Let's see just how much.

  • New Austin Listings increased 14.0 percent to 3,080.
  • Pending Sales were up 35.8 percent to 2,525.
  • Inventory levels shrank 22.3 percent to 8,763 units.

Prices moved higher.

  • The Median Sales Price increased 9.1 percent to $209,000.
  • Days on Market was down 25.4 percent to 57 days.
  • The supply/demand balance stabilized as Months Supply of Inventory was down 36.1 percent to 4.1 months.

 With election season in full swing, both politicians and economists will place extra emphasis on jobs and unemployment figures. Recognizing the relationship between jobs and housing demand, the most tuned-in agents and brokers will do the same.

Detailed Market Report (PDF)

The truth is, the economy is and has been expanding consistently for years, albeit at a disjointed pace. There's reason for optimism going into the last third of 2012 and even into 2013, and housing is actually playing a large role in that positive outlook.

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