Team Price > Search > Market Statistics > November 2014

Market Report November 2014

Published December 31 2014 / Team Price Real Estate

New Austin Listings increased 4.6 percent to 2,328. Pending Sales were up 12.7 percent to 2,230. Inventory levels rose 0.9 percent to 6,899 units. Prices continued to gain traction. The Median Sales Price increased 10.6 percent to $240,000. Days on Market was up 5.3 percent to 51 days. Sellers were encouraged as Months Supply of Inventory was down 0.9 percent to 2.6 months.

With 2015 near, some are pontificating about a potential change in interest rates. With virtually no inflation, rates will likely remain low for most of 2015 but could flirt with 5.0 percent toward the end of next year. Construction permits and housing starts have upward momentum, which is news in some areas but familiar in others. Prices should continue their ascent but at a tempered pace compared to recent years, which helps preserve affordability for first-time buyers.  

Townhouses & Condominiums : The volume of townhouses and condominiums (condos) purchased in the Austin area in November 2014 was 162, which is 24 percent less than November 2013. In the same time period, the median price for condos was $221,000, which is 13 percent more than the same month last year. These properties spent an average of 49 days on the market, five days less than November 2013.

Leasing : In November 2014, a total of 1,175 properties were leased in Austin, which is six percent more than November 2013. The median price for Austin-area leases was $1,420, which is two percent more than the same month last year.

Detailed Market Statistics Report 

Average Sales Price

 

November 2014 Snapshot

Home sales statistics are released on a monthly basis. Average sales price for all closed sales, not accounting for seller concessions, in a given month. 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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