Team Price > Search > Market Statistics > June 2014

Market Report June 2014

Published July 31 2014 / Team Price Real Estate

New Austin Listings region increased 0.2 percent to 4,119. Pending Sales were up 5.9 percent to 3,273. Inventory levels fell 7.1 percent to 7,300 units. Prices forged onward. The Median Sales Price increased 8.3 percent to $248,000. Days on Market was up 2.1 percent to 36 days. Absorption rates improved as Months Supply of Inventory was down 13.0 percent to 2.8 months.

Housing development has also been a driving factor in the housing stock increase. The final Q2-2014 data from Metrostudy shows that home starts in the Austin area have increased eight percent year-over-year to 9,782 homes, as well as 6,007 vacant developed lots that have been delivered to date in 2014. In addition, the number of new homes on the market has increased by more than 500 new homes year-over-year to 4,941 homes, with new homes under construction comprising about 80 percent of that figure.

Detailed Market Statistics Report  

Townhouses & Condominiums :  The volume of townhouses and condominiums (condos) purchased in the Austin area in June 2014 was 308, which is one percent fewer than June 2013. In the same time period, the median price for condos was $209,000, which is eight percent more than the same month of the prior year. These properties spent an average of 31 days on the market, 10 days fewer than June 2013.

For the first half of 2014, 1,641 Austin condos were sold, which is 10 percent more than this time last year, while the median price was $213,500, or 10 percent more than the first half of 2013. Condos spent an average of 44 days on the market, 13 fewer days than the first half of 2013.

Leasing : In June 2014, a total of 1,712 properties were leased in Austin, which is 14 percent more than June 2013. The median price for Austin-area leases was $1,500, which is three percent more than the same month last year. In the first half of 2014, a total of 7,967 properties were leased in Austin, which is five percent more than 2013, and the median lease price was $1,450, a four percent increase from the first half of 2013.

Home sales statistics are released on a monthly basis. For more information, please contact Team Price Real Estate at 512-213-0213. The inventory of homes for a market is measured in months, which is defined as the number of active listings divided by the average sales per month of the prior 12 months. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced. Statistics from ABoR Marketing Department. All rights reserved. © Copyright 2014

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