December can be a great time to buy luxury homes. Many people schedule relocations around school holidays so there are more homes to choose from when performing an Austin home search.
Austin, Texas (PRWEB) December 13, 2011
The December 2011 real estate climate and luxury real estate market conditions in Austin, Texas are now available for review from the Austin home search and Austin luxury home real estate experts at Regent Property Group. The data for the report was provided by the Austin Board of REALTORS® and presented in an easy to follow format by Austin Realtor® and Regent founder Brian Talley. Data continue to show a strong improvement in the real estate market for high-end homes. Luxury homes in the Austin market generally are priced at about $1 million to $20 million.
Currently, there are 177 luxury homes for sale in Austin with a median list price of $391 per square foot, averaging at a total list price of $2,450,000, with an average of 233 active days on the market. The average home for sale has 4 bedrooms, 6 bathrooms, and 6542 square feet. There are currently 3 luxury homes pending sale in Austin with a median list price of $336 per square foot, or roughly a $1,625,000 total list price, and averaging 177 active days on the market. The average home pending sale has 4 bedrooms, 6 bathrooms, and 7047 square feet.
Compared to the rate of sales in November 2010, there was a 7.5% increase in the number of single-family homes sold in November 2011 and a 1.4% increase in sold prices. November 2011 also showed improvement compared to the previous year with a 3.8% increase in homes sold, a 2.2% increase in the median sold price per square foot, and a 10.5% decrease in the time it is taking to sell a home. There was also an 11.2% increase in the number of homes pending sale compared to the previous year and a 37% decrease in withdrawals. Interest rates are still very low, averaging 4% for a 30 year conventional loan today with 0.7 fees/points down per freddiemac.com.
"December can be a great time to buy higher-end homes," said Talley. "Many people schedule relocations around school holidays so there are more homes to choose from when performing an Austin home search. Plus, it's a great time to gauge a neighborhood's sense of community, since the holiday season tends to bring neighbors together through both outdoor decorations and friendship."
Popular high-end, exclusive home neighborhoods In Austin include Avery Ranch, Rob Roy, River Place, and Westlake area homes. A licensed real estate agent can help discuss the market conditions for individual communities in Austin while locating prime Austin homes for sale.
About Regent Property Group:
Brian Talley is the founder and owner of The Regent Property Group. He is ranked among the top 1% of selling agents out of the 5,313 Austin Board of REALTOR® members. Over the past four years, Talley has been a top producer closing multi-million dollars’ worth of transactions for homes located all over Austin. Talley has been active in real estate since 1998 where he began his career working in retail development, sales, and marketing. 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.