Team Price > MLS Search > Market Statistics > June 2012

Published July 12, 2012 / Team Price Real Estate

We’re halfway through 2012, and what a year it’s been. Residential real estate has finally taken some meaningful strides toward recovery, and they’ve all been self-powered without divine (or governmental) intervention. Yes, there have been some head fakes in the past, but there's real reason to believe that market turnaround awaits us. Beyond home prices, key metrics to watch include Days on Market, Percent of List Price Received and Months Supply of Inventory. Locally, several indicators showed improvement. Let's see what the rest of our local data has to say.

New Listings in the Austin region increased 5.5 percent to 3,748. Pending Sales were up 28.1 percent to 2,802. Inventory levels shrank 24.7 percent to 9,154 units.

Prices moved higher. The Median Sales Price increased 8.6 percent to $215,000. Days on Market was down 24.7 percent to 54 days. The supply-demand balance stabilized as Months Supply of Inventory was down 38.5 percent to 4.5 months.

June 2012 Detailed Market Report

We seem to be at a critical inflection point in our search for more employment opportunities. Job growth provides the dual benefit of stimulating new household growth as well as relieving distressed homeowners. There's also the positive feedback loop of housing creating jobs and jobs creating housing. Keeping the affordability picture afloat, the Fed has vowed to keep interest rates around 4.0 percent through mid-2013.

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