The real estate world’s buzz over an improving market has increased in frequency almost as high as the new Austin real estate sales figures.
Austin, Texas (PRWEB) April 09, 2012
The premier luxury real estate and Austin Home Search experts at Regent Property Group are reporting the Austin, Texas housing market is continuing to rebound steadily and smoothly. Their recent March 2012 Austin real estate market report illustrates the positive upturn, showing 18% more homes sold and a 3.42% increase in sold prices per square foot from this time in 2011. There are 23% less homes for sale, a 29.17% increase in homes pending sale, a 28% decrease in homes withdrawn from the market, and it is taking 30.8% less time to sell a home. Interest rates have also lowered, averaging 3.88% for a 30 year conventional loan.
“The real estate world’s buzz over an improving market has increased in frequency almost as high as the new Austin real estate sales figures,” says Regent Property Group founder Brian Talley, commenting on the amount of news circulating regarding the market’s upswing.
As the volume of homes on the market decreases, lease inventory also continues to fall in Austin, and lease prices are increasing, making now an even wiser time to make a long-term investment in real estate. Between January 1st and March 11, 2012 there were 1158 single-family homes sold within the Austin city limits with a median sold price of $121.20 per square foot ($240,000) and averaging 71 days on the market. During the same time period in 2011 there were 1192 homes sold with a median sold price of $115.80 per square foot ($234,995) and averaging 84 days on the market. This is a 2.85% decrease in the number of homes sold, 4.66% increase in the median sold price per square foot, a 2.13% increase in sold prices (total dollars), and a 15.5% decrease in the days on market compared to the same time period in 2011.
2,357 single-family homes remain actively for sale within the city limits of Austin with a median list price of $143.10 per square foot ($354,900). The median home price is well represented in the neighborhoods of Legend Oaks, Belterra, and Lost Creek.
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.