Our healthy job market and employment levels, coupled with a high quality of life, sustain Austin as one of the best places to live and work in the United States.
Austin, Texas (PRWEB) November 21, 2012
Austin has experienced an 11.7% increase in homes sold thus far in 2012, along with a 6.9% increase in sold prices and a 21% decrease in days on the market, according to a recent Austin real estate report by Regent Property Group. October 2012, compared to October 2011, also was strong with a 33.4% increase in homes sold and a 14.3% increase in median sold prices.
Home inventory in Austin continues to stay low, with a 27.4% decrease compared to this time last year. Of additional note is the Austin area unemployment rate (Austin-Round Rock-San Marcos,) which declined from 5.9% in August 2012 to 5.3% in September 2012.
“Austin is seeing a remarkably strong local real estate economy and a strong economy in general,” said Regent Property Group Founder Brian Talley, “especially compared to other parts of the country. Our healthy job market and employment levels, coupled with a high quality of life, sustain Austin as one of the best places to live and work in the United States.”
Between January 1 and November 12, 2012, there were 8,952 single-family homes sold within Austin with a median sold price of $125.47 per square foot ($262,000) and averaging 52 days on the market. Below are more Austin real estate statistics:
October 2012 compared to October 2011
- 27.4% decrease in homes actively for sale compared to 11/07/11
- 24% increase in homes pending sale compared to 11/07/11
- 33.4% increase in the number of single-family homes sold
- 8.8% increase in median single-family sold price per square foot
- 14.3% increase in median sold price (total dollars)
- 18.6% decrease in the time it is taking to sell a home
- 41.8% decrease in number of homes for lease compared to 11/07/11
- 3.9% decrease in the number of homes leased
- 25% increase in leased price per square foot
- 42.2% increase in the time it is taking to lease a home
Market Snapshot (Year-to-date compared to same time period during the year 2011)
- 11.7% increase in homes sold
- 6.9% increase in sold prices (total dollars)
- 4.6% increase in sold prices (per square foot)
- 21.21% decrease in days on market
About Regent Property Group
Regent Property Group LLC is a top Austin real estate company owned and managed by real estate broker and luxury home REALTOR® Brian Talley. Talley and his seasoned, professional team of Austin REALTORS® provide one-on-one real estate services to their customer base, ensuring they receive the highest level of care and satisfaction. With such an important process, it is crucial to utilize the best technology and to work with the top Austin real estate agents, and you can trust the agents with Regent Property Group. Media: Please contact Brian Talley at info (at) regentpg (dot) com.