Low inventory and interest rates, along with an increasing demand for homes, are cranking up the volume on sales. The market is becoming more competitive among buyers, and sellers are able to capitalize on more built-up equity than in the recent past.
Austin, Texas (PRWEB) May 17, 2013
The Austin home search experts at Regent Property Group are reporting that price and volume increases are strong for Austin real estate thus far in 2013, compared to the same time period in 2012. The April 2013 average sold price of $412,124 is about $74k higher than the average sold price in April 2012, and the median sold price of $299,000 is $49k higher than last year’s median price of $250k. Year to date comparisons are $275k for median price in 2013, compared to $250k in 2012, for an increase of 10 percent.
As far as sales volume, 3,472 homes sold from the beginning of 2013 to May 10, while 3,018 sold in a similar time period last year. This is 450 more homes, which translates to a 15 percent increase.
Regent Property Group Broker Brian Talley noted the “quickened pace” real estate agents are seeing in the Austin real estate market. “Low inventory and interest rates, along with an increasing demand for homes, are cranking up the volume on sales,” he said. “The market is becoming more competitive among buyers, and sellers are able to capitalize on more built-up equity than in the recent past.”
The average list price for active homes is around $857k, and the median list price for active homes is about $484k. As these numbers are well above the current sold data, they might indicate additional increases in sales prices in the near future for Austin homes, especially in highly desired areas like the homes in Westlake and Lake Austin.
In April 2013, 1,075 homes were sold, with a high sold price of $5,860,000, an average sold price of $412,124, and a median sold price of $299,000. Year to date (May 10, 2013), 3,472 homes have sold, with a high sold price of $5,860,000 million, an average sold price of $368,248, and a median sold price of $275,000.
As far as active homes, 1,624 homes were for sale on May 10, with a high list price of $15 million, an average list price of $856,825, and a median list price of $484,049. There were 1,823 homes under contract, with a high list price of $3,995,000, an average list price of $386,478, and a median list price of $290,940.
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. Contact: Call Regent Property Group at 512.215.0565 or email info (at) regentpg (dot) com.