"The holidays, both winter and summer, tend to be a prime time for home buying," said Regent agent Brian Talley. "Plus, the low interest rates are still a large draw for beginning an Austin home search sooner rather than later."
Austin, Texas (PRWEB) December 13, 2011
The current December real estate climate and real estate market conditions in Austin, Texas are now available for review from the Austin home search and 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® Brian Talley.
November 2011 showed an improvement compared to 2010, with a 7.5% increase in the number of single-family homes sold 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.
"The holidays, both winter and summer, tend to be a prime time for home buying," said Regent agent Brian Talley. "Many people wait to move until school lets out so there is a wider selection of homes to view. Plus, the low interest rates are still a large draw for beginning an Austin home search sooner rather than later."
The leasing market continues to be tight with a 38.3% decrease in the number of homes for lease, a 12.5% increase in lease prices per square foot, and a 33.3% decrease in the time it is taking to lease a home compared to last year. Interest rates are still very low, averaging 4% for a 30 year conventional loan today with 0.7 fees/points down per freddiemac.com.
Between January 1st and December 5, 2011 there were 8,040 single-family homes sold within the Austin city limits, with a median sold price of $119.54 per square foot ($248,500) and averaging 70 days on the market. During the same time period in 2010, there were 7,476 homes sold with a median sold price of $120.24 per square foot ($245,000) and averaging 65 days on the market. This is a 7.5% increase in the number of homes sold, 0.6% decrease in the median sold price per square foot, a 1.4% increase in sold prices (total dollars), and an 7.7% increase in the days on market compared to the same time period in 2010.
About Regent Property Group:
Brian Talley is the founder and owner of 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 Austin luxury homes. Contact Regent Property Group today at 512-554-9714.