Team Price > Search > Market Statistics > September 2013

Market Report September 2013

Published October 22, 2013 / Team Price Real Estate

Buyers are buying, sellers are selling, lenders are lending and builders are building. Sure, this varies from region to region and even city to city within a region or state, but by and large, things are returning to normal. All major indices showcase fairly robust price recovery. Consumer confidence isn't what it couldĀ  be, but it's sufficient for now.

  • New Austin Listings increased 14.5 percent to 2,809.
  • Pending Sales were up 19.9 percent to 2,356.
  • Inventory levels shrank 20.3 percent to 7,107 units.
  • Median Sales Price increased 12.8 percent to $219,875.
  • Days on Market was down 31.1 percent to 42 days.
  • Months Supply of Inventory was down 34.3 percent to 2.8 months.

Detailed Market Statistics Report

Townhouses & Condominiums: The number of townhouses and condominiums (condos) purchased in the Austin area in September 2013 was 261, which is 25 percent more than September 2012. In the same time period, the median price for condos was $202,000, which is 13 percent more than the same month of the prior year. When compared to September 2012, these properties spent 37 percent less time on the market, or an average of 43 days.

Leasing: In September 2013, a total of 1,409 properties were leased in Austin, which is 10 percent more than September 2012. The median price for Austin-area leases was $1,350, which is two 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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