This trend indicates it is a great time to sell a starter home and move to something larger, taking advantage of the values that can still be found in higher priced homes while having a strong security that the smaller home will sell quickly.
Austin, TX (PRWEB) April 30, 2012
The premier luxury real estate and Austin Home Search experts at Regent Property Group have released the April 2012 Austin, Texas real estate market report, with good news for those selling a home. The Austin housing market continues to thrive in steady correlation with its increasing population and thriving job market. Homes that range in price from $200,000 to $400,000 are the most in demand, like those in the neighborhoods of Sendera, Travis Country, and Great Hills.
Regent Property Group founder Brian Talley says, “This trend indicates it is a great time to sell a starter home and move to something larger, taking advantage of the values that can still be found in higher priced homes, while having a strong security that the smaller home will sell quickly.” Investors also can take advantage of high rental prices by finding well priced fixer-uppers to repair and rent.
The market statistics provided by the Austin Board of Realtors show that there were 5.35% more homes sold and a 6.66% increase in sold prices per square foot when comparing March 2012 to March 2011. There are 30.16% less homes for sale, a 22.66% increase in homes pending sale, a 36.9% decrease in homes withdrawn from the market, and it is taking 24.42% less time to sell a home. Meanwhile, lease inventory continues to fall in Austin, and lease prices are increasing.
A simple Austin home search, especially in median range priced homes, will reveal the pace at which homes are now moving, with numerous listings pending sale (1,510 as of 4/09/12). Between January 1st and March 11, 2012 there were 1,892 single-family homes sold within the Austin city limits with a median sold price of $120.90 per square foot ($244,500) and averaging 69 days on the market. During the same time period in 2011 there were 1663 homes sold with a median sold price of $114.90 per square foot ($232,950) and averaging 84 days on the market. This is a 13.77% increase in the number of homes sold, a 5.22% increase in the median sold price per square foot, a 5.16% increase in sold prices (total dollars), and a 17.86% decrease in the days on market compared to the same time period in 2011.
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.