Team Price > Search > Market Statistics > May 2014

Market Report May 2014

Published June 23, 2014 / Team Price Real Estate

The total inventory of Austin-area homes in May 2014 was 2.6 months, the highest rate of inventory seen in Austin since last September but still a slight decrease of 0.1 months from May 2013. Measured in months, Austin’s monthly housing inventory is the result of the current number of active listings divided by the average home sales per month of the prior 12 months.

Active listings increased by four percent and new listings increased by seven percent in May 2014 compared to the prior year. Homes also continued to sell quickly, spending an average of 40 days on the market, which is four days less than one year prior.

  • New Austin Listings increased 6.6 percent to 4,473
  • Pending Sales were up 8.8 percent to 3,419
  • Inventory levels shrank 9.3 percent to 6,809
  • The Median Sales Price increased 7.6 percent to $244,845
  • Days on Market was down 4.0 percent to 38 days
  • Months Supply of Inventory was down 16.7 percent to 2.6 months

Detailed Market Statistics Report  

Townhouses & Condominiums :  The number of townhouses and condominiums (condos) purchased in the Austin area in May 2014 was 368, which is 14 percent more than May 2013. In the same time period, the median price for condos and townhomes was $214,900, which is 11 percent more than the same month of the prior year. These properties spent an average of 41 days on the market, nine days fewer than May 2013.

Leasing : In May 2014, a total of 1,540 properties were leased in the Austin area, which is six percent more than May 2013. The median price for Austin-area leases was $1,500, which is seven percent more than the same month of the prior year.

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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