2014 is off to a great start! The Austin Real Estate market is on fire, as the most recent batch of statistics confirms. As usual, I’ve compiled the most relevent, up to date numbers into a handy real estate infographic that you can download, share, or tweet. These data were gathered from the monthly reports generated by the Austin Board of Realtors, and while deemed reliable, you should check the numbers for yourself if you have any questions.
Click to Tweet this – Austin Real Estate Statistics and Infographic for January 2014
Austin Real Estate Stats
According to the Austin Board of Realtors:
- Home sales are up 7% year-to-date when compared with the January of 2013.
- The median price of a house in the Austin area is also UP 7%.
- Homes took an average of 63 days on the market to sell, a decrease of 9 days from last year, even in this usually slow beginning of the year period.
- There are only 2.0 months of inventory, (a balanced market has a 6 month supply). this means there isn’t a huge selection of homes to view if you are looking.
Did you see that last stat? There is only a 2 month supply of homes. A normal, balanced market has a 6 month supply. What that means is that if no new homes are listed for sale, it would take 6 months to exhaust all the inventory of houses for sale. That gives buyers a lot of options, as well as time to look around.
But in this crazy seller’s market, buyers are at a disadvantage. Properly priced homes are receiving multiple offers, generally above asking, and they are selling in days (and in some cases even hours). I learned of a house in central Austin that got 24 offers in a single weekend!
Strategies for buying a house in Austin
If you are thinking about moving to Austin and buying a house, you could have some competition, depending on your price point. There are lots of great tools to help you find a house these days, including Zillow, Trulia, or Realtor.com. But once you find the house of your dreams, you need a strategy to get it, and that’s where I come in. I’ve got proven, winning, negotiation strategies that can help you get the house you want, for the best price, and with the least amount of hassle.