Team Price > Search > Market Statistics > February 2012

Published March 16, 2012 / Team Price Real Estate

It may be a Leap Year, but February is more of a Connect Month for reporting residential real estate data in 2012. That's because it's a buffer between the traditionally slow winter months and what is potentially going to be an interesting and encouraging spring selling season. But let's not look past brief but brassy February so quickly. After all, it grew a whole day taller this year. Let's give the oft-overlooked month its due because the numbers are mostly positive at first blush.

  • New Austin Listings increased 8.2 percent to 2,887.
  • Pending Sales were up 39.1 percent to 2,182.
  • Inventory levels shrank 23.1 percent to 7,907 units.

Home prices gazed skyward.

  • The Median Sales Price increased 2.7 percent to $189,950.
  • Days on Market was down 12.8 percent to 81 days.
  • Absorption rates improved as Months Supply of Inventory was down 32.5 percent to 4.2 months.

Detailed Market Report (PDF)

Consumer confidence is as high as it has been in a year, and the Federal Reserve reported growth in all of its 12 banking districts in 2012 through the first half of February, including more hiring and home sales. There are still some challenges to work through, but pessimism is no longer in vogue. Laments over things like unemployment and high gas prices are being replaced with chatter about job prospects and sensible home shopping. The economy and housing market are by no means recovered, but it's okay to think positive.

Sign up for email updates