Team Price > MLS Search > Market Statistics > March 2013

Published April 15, 2012 / Team Price Real Estate

With spring here in all its bounty, it's time to renew, refresh and revive our understanding of what's fueling the ongoing market recovery. First, tightened inventory levels combined with strong demand are fueling price gains in many areas. Second, consumer demand is shifting from distressed properties to conventional homes. Third, record-low mortgage rates and rising rents are supporting housing recovery. Here is what's happening in the Austin area.

New Listings in the Austin in the Austin region decreased 0.3 percent to 3,730. Pending Sales were up 26.2 percent to 3,143. Inventory levels shrank 30.4 percent to 6,250 units.

Prices moved higher. The Median Sales Price increased 9.1 percent to $215,000. Days on Market was down 25.8 percent to 59 days. Absorption rates improved as Months Supply of Inventory was down 43.3 percent to 2.7 months.

On the economic front, things inched forward. We saw a minor but important upward revision to Q4-2012 GDP growth that put us back in positive territory. In the political arena, key debates over the deficit, marriage, gun law, immigration reform and tax policy rage onward. The squeaky wheel gets the grease, and with this emerging housing recovery, there are no imminent housing-related bills. Perhaps that's a good thing.

March 2013 Detailed Market Report (pdf)

Sign up for email updates