Team Price > MLS Search > Market Statistics > March 2012

Published April 15, 2012 / Team Price Real Estate

Let’s talk about data. Navigating through a complex and fast-moving marketplace is tough work. Agents are being called upon to provide fact-based guidance in a timely fashion – and rightly so. MLS data is detailed, accurate and very much “now.” It makes the magic of data-driven decision-making possible. So go ahead, channel the collective energy of your hard-earned status changes and let’s see what the facts tell us about March 2012.

New Listings in the Austin region decreased 6.0 percent to 3,733. Pending Sales were up 31.6 percent to 2,688. Inventory levels shrank 25.6 percent to 8,321 units.

Home prices are slowly starting to turn a corner. The Median Sales Price increased 9.2 percent to $199,101. Days on Market was down 15.6 percent to 78 days. Absorption rates improved as Months Supply of Inventory was down 37.3 percent to 4.3 months.

March 2012 Detailed Market Report

For better or worse – usually better – housing is closely tied to the broader economy. As much as we're in the valley of a residential real estate rebalancing act, it's important to keep tabs on economic changes. Recent improvements suggest that there may be a stirring of optimism in the center of this market. But not all submarkets will move together.

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