There were fewer homes for sale in Austin during August of 2012 compared to August of 2011. According to the latest figures from the Austin Board of Realtors, they are selling faster and they are selling at a higher median price. There are also fewer homes in inventory this year than there were a year ago. The market last month offered four months of inventory, compared to nearly six months of inventory last August. However, new listings were up by 15 percent compared to a year ago. There was also an increase in pending sales. Austin homes are selling faster, by an average of about 18 days less than in August of 2011. How does that translate into the Austin real estate market and how could it affect you as a buyer or seller? It’s good news.
If you are one of the many people waiting to put your house on the market until property starts to move more quickly, this might be the right time. Last month, homes sold had spent an average of 61 days on the market. For many folks, this is a manageable amount of time.
An increase in the number of Austin homes coming on the market means you have more choices, and a better likelihood of finding something you will really like and be comfortable in for years to come.
If you’re thinking about buying or selling an Austin home and you would like to talk to a real estate professional that understands the Austin real estate market, contact our York Real Estate staff. We can answer any questions you might have and help you decide if now is the right time for you.