Austin, Texas (PRWEB) August 21, 2013
Austin home search brokerage Regent Property Group announces median year to date sold home prices are over $28,000 higher in Austin, Texas than this time in 2012, with over 700 more homes selling in this time period compared to last year. With a median year to date sold price of $261,900 last year, and a median year to date sold price of $290,000 in 2013, most buyers are paying over ten percent more for comparable Austin homes in the span of just one year.
Additionally, the Austin Board of REALTORS® released a Multiple Listing Service (MLS) report with its own calculations demonstrating Austin closed its highest number of monthly sales ever, with 3,135 single-family homes sold in the Austin area in July 2013 (a 35 percent jump from July 2012.) The total dollars of single-family properties sold was $933,242,475 – edging close to the $1 billion mark. Inventory stood at 2.8 months, 1.5 months less than July 2012.
“Austin is experiencing tremendous growth due to its strong economy and high quality of life, and we see that reflected in these record-breaking real estate statistics,” said Brian Talley, founder of Regent Property Group. “Anecdotally, Austin real estate agents have known all year that our industry has been remarkably busy, and each month these statistics are backing this up with numbers showing increased demand for homes, increased prices, and shorter times on the market.”
Talley said that even though Austin new home construction is beginning to pick up in pace, it may take a while for it to offset the demand for housing and that it appears, at least in the short-term, that demand will stay high and prices will continue to increase.
According to Regent calculations, the average sold price for Austin homes in July 2013 was $380,951 ($167.24 per square foot,) and the median sold price was $300,500 ($141.09 per square foot.) This is up from July 2012’s average sold price of $359,494 ($148.75 per square foot) and median sold price of $262,000 ($126.95 per square foot.)
About Regent Property Group
Regent Property Group was founded by Brian Talley, who has been ranked among the top 1% and 2% of Austin Board of REALTORS® members. He is a personal top producer, closing multi-million dollars of transactions for homes located all over Austin, in areas such as Lake Austin, Eanes ISD, Westlake, downtown, and more. During 2011, Brian was the #11 selling agent (#9 including off-MLS properties) for total dollar volume sold in the greater Austin area. Talley, a 5th generation Texan, 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. Are you ready to live a luxury Austin lifestyle? Contact the luxury REALTORS® at Regent Property Group for information on available properties or to ask questions about specific homes for sale. Contact: info (at) regentpg (dot) com, or call today at 512.554.9714.