Team Price > MLS Search > Market Statistics > September 2012

Published October 23, 2012 / Team Price Real Estate

Most housing metrics should follow their usual, autumnal movements – higher inventory and days on market, fewer sales, lower prices. That applies only to month-to-month seasonal trends; most indicators should still show improvement on a year-over-year basis. As you already know, all real estate is local – down to the city neighborhood, suburban development and exurban lot. Now let's take a look at some local figures.

New Listings in the Austin region decreased 1.3 percent to 2,452. Pending Sales were up 24.2 percent to 2,105. Inventory levels shrank 21.2 percent to 8,339 units.

September 2012 Detailed Market Report

Prices gazed skyward. The Median Sales Price increased 5.4 percent to $195,000. Days on Market was down 22.4 percent to 60 days. The supplydemand balance stabilized as Months Supply of Inventory was down 34.8 percent to 3.9 months.

The Fed's mortgage purchases drove Freddie Mac's average 30-year fixed-rate mortgage survey to an all-time low of 3.40 percent. Employment growth remains critical, providing the very jobs that will stimulate housing demand and higher prices as well as alleviate beleaguered homeowners.

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