By Andy Sevilla.
Austin-area home sales reached a historic high for December helping fuel the $8 billion in total dollar volume of single-family properties sold in 2013, according to recently released statistics.
The Multiple Listings Service (MLS) report released Jan. 17 by the Austin Board of Realtors (ABoR), which includes Hays County homes in its figures, showed that 2,080 single-family homes were sold in the Austin area in December – 14 percent more than in December 2012.
The December housing market featured two months of inventory also setting a new record – a historic low for the Austin housing inventory – ABoR said.
2013 year-end housing totals 27,298 Total single-family homes sold
$223,890 Median price for single-family homes
50 Average number of days a single-family home spent on the market
5,492 Active single-family home listings on the market
28,017 Pending sales for single-family homes
$7,933,813,683 Total dollar volume of single-family properties sold
December 2013 Statistics 2,080 Single-family homes sold, 14 percent more than December 2012.
$226,000 Median price for single-family homes, eight percent more than December 2012.
52 Average number of days single-family homes spent on the market, 19 days fewer than December 2012.
1,404 New single-family home listings on the market, three percent more than December 2012.
4,545 Active single-family home listings on the market, 11 percent fewer than December 2012.
1,375 Pending sales for single-family homes, nine percent fewer than December 2012.
2.0 Months of inventory* of single-family homes, 0.7 months less than December 2012.
$610,579,840 Total dollar volume of single-family properties sold, 19 percent more than December 2012. |
Bill Evans, 2014 ABoR president, said in a statement “2013 was one of the strongest years for the Austin housing market that (realtors) have ever seen.” More than 27,000 single-family homes were sold in 2013 in the Austin-area, according to the report, and the annual median sale price for a home was $223,890 – a nine percent jump from the previous year.
“Population and economic growth in the Austin area show no signs of slowing down this year; neither does Austin’s increasingly competitive housing market,” Evans said. “In 2014, Austin homebuyers and sellers can expect home prices to continue to rise across all segments of the market.”
Austin-area homes spent an average of 50 days on the market, which is a decrease of 19 days from 2012. The real estate market also featured nine percent more new listings, 20 percent fewer active listings and 12 percent more pending sales than in 2012, the report showed.
“The key to continued success for the Austin housing market is maintain market stability in 2014,” Evans said. “We need a steady flow of new inventory hitting the market, and the city must work to create a regulatory environment that allows developers to keep up with growing housing demand, which in turn will keep Austin’s housing inventory stable and its homes affordable.”
