Team Price > Search > Market Statistics > November 2013

Market Report November 2013

Published December 21, 2013 / Team Price Real Estate

November was largely another encouraging month for residential real estate. Our attention has shifted from multiyear high prices and sales volumes to seller activity, inventory levels and building permits. And let's not forget the calendar effect. As families gather together, fewer house hunters are scheduling showings and writing offers. Watch for month-to-month activity to moderate while year-over-year comparisons remain strong.

  • New Austin Listings decreased 0.3 percent to 2,220
  • Pending Sales were up 16.5 percent to 2,121
  • Inventory levels shrank 19.5 percent to 6,267
  • Median Sales Price increased 9.6 percent to $216,000
  • Days on Market was down 23.3 percent to 48 days
  • Months Supply of Inventory was down 32.7 percent to 2.4 months

Detailed Market Statistics Report

Townhouses & Condominiums: The number of townhouses and condominiums (condos) purchased in the Austin area in November 2013 was 223, which is 35 percent more than November 2012. In the same time period, the median price for condos was $195,200, which is eight percent more than the same month of the prior year. When compared to November 2012, these properties spent an average of 55 days on the market, or 38 percent less time.

Leasing: In November 2013, a total of 1,162 properties were leased in Austin, which is six percent more than November 2012. The median price for Austin-area leases was $1,390, 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.

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