Austin, TX (PRWEB) July 24, 2012
The premier Austin Luxury Properties and Austin Home Search experts at Regent Property Group have released a July 2012 Austin, Texas real estate market report, relaying continual good trends in a sizzling Austin housing market. Data indicates Austin has a third less homes for sale, a 12% increase in the number of single-family homes sold, a 7% increase in the average sale price, 25% more homes pending sale, and that it is taking a third less time to sell compared to June 2011. Further boosting the housing market are interest rates, which are at an all-time low, averaging 3.62% for a 30 year conventional loan.
Unfortunately for renters, rates are at an all-time high. The median price for a rental home or unit is currently $1,695 per month, and rentals are being put under contract in less than a month. This same time last year, the average cost of a rented home was just $1,350 per month, and prices likely will continue to rise as Austin becomes a landlord’s market.
“A landlord’s market means the time is ripe to invest in starting an Austin home search,” said Regent Property Group Founder Brian Talley. “Homes are moving faster every month, but an Austin REALTOR® still can help locate a dream home, sometimes even before a home is listed publicly.”
In 2011, homes for sale were sitting on the market an average of 73 days, and, this year, that length has decreased to 54 days. The median home price in 2011 was $248,000, and this number has risen for 2012, up to $262,500. The median price can purchase a beautiful home in a neighborhood like the Villages at Western Oaks. This is a 4.78% increase in the median sold price per square foot, a 5.84% increase in sold prices, and a 26.02% decrease in the days on market compared to the same time period in 2011. An Austin luxury home can be purchased close to a $1,000,000 and more, and stunning examples are found in neighborhoods like Rob Roy and Barton Creek.
About Regent Property Group:
Brian Talley is the founder and owner of Regent Property Group. He is a 5th generation Texan who has been active in Austin real estate since 1998. During 2011, Brian was the #11 top selling agent for total dollar volume sold out of over 5,000 REALTORS® in the greater Austin area. During 2008, 2009, 2010, and 2011 Brian was a top producer, closing multi-million dollars' worth of residential Austin real estate purchase and sales transactions for homes located all over the greater Austin area, such as Lake Austin, Eanes ISD, Westlake, downtown, and more. He formed Regent Property Group to serve the needs of Austin’s residential real estate clients, helping people buy and sell luxury homes in the greater Austin area. Contact Regent Property Group today at 512-554-9714.