Team Price > MLS Search > Market Statistics > May 2013

Published June 23, 2012 / Team Price Real Estate

We're halfway through the year and it seems our collective attention has shifted from monitoring price and sales gains to eagerly anticipating more new listing activity on the part of sellers. This shift is the result of an imbalance between strong demand for homes and constrained supply. In some markets, purchase agreements are being written up directly after a showing. Your experience and local market conditions may differ, but the market as a whole has summertime heat. Here is what's happening in the Austin area.

New Listings in the Austin in the Austin region increased 9.5 percent to 4,194. Pending Sales were up 24.0 percent to 3,395. Inventory levels shrank 28.4 percent to 6,837 units.

Prices turned higher. The Median Sales Price increased 9.6 percent to $227,900. Days on Market was down 40.5 percent to 36 days. Absorption rates improved as Months Supply of Inventory was down 41.3 percent to 2.8 months.

Interest rate risk is back in the headlines after Fed chief Ben Bernanke's latest testimony on Capitol Hill. The Federal Reserve Bank is considering decreasing its $85 billion a month bond asset purchases, which have been holding interest rates at or near historic lows. This is mostly the result of an improving jobs market, which is a good thing for real estate.

May 2013 Detailed Market Report (pdf)

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