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November Market Report

Look below our market report to meet the most recent members of the York Real Estate team. Also, click here to see an invitation to our next York’s Third Thursday event at the Belmont. Can’t wait to see you there!

A report released Monday of this week shows Austin leads Texas as the fastest growing Metropolitan area in Texas and the fourth fastest in the nation. The American Business Journal report shows that Austin’s population has grown 8% in the last two years while employment has jumped more than 10%, amazing growth in light of the uncertainties of the economy. Nationally, unemployment jumped 0.4% in October to 6.5%, the highest unemployment since 1994. Negative economic news resulted in money surging back into the more secure bond market which saw an impressive three day rally of 160 bp last week. This improved mortgage rates by more than 0.25%, to around 6%.

Locally, the average sales price has fallen nearly $10,000 relative to a year ago, down to $243,686 and the number of homes sold is down 8%. Suburban North and Suburban South Austin continue to outpace the rest of the Austin MLS for sales with Active Listings to pending listing ratios exceding 30%.

Excellent growth, competitive interest rates, great inventory and lower sales prices combine to make this an excellent market to upgrade to better home or purchase your first home. Call or email us 512.275.9675 and info@yorkgroupaustin.com for more information.

John May is an experienced agent who has sold over $15 million of real estate in Austin. His extensive real estate knowledge and personable approach make him an invaluable asset to our team.

Michelle Martin brings an impressive resume of marketing experience to the York team. Michelle raises the bar of professionalism for all of us and will propel us down the path of continually improving our service to our clients.

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