Austin is hot hot hot! Life in Austin is good, and everyone is starting to get the message. Austin has been named fastest growing city, had been near the top of most economic polls and surveys in 2013. 2014 just started and there is already high praise for this marvelous city and the Austin housing market is already off to a great start.
This month, Forbes ranked Austin as the fastest growing city in the country for the fourth year in a row. That growth has driven demand for housing in Austin and contributes the decrease in housing inventory. In January 2014, the Austin market featured 2.0 months of inventory, compared to 2.5 months of inventory in January 2013.
The Austin real estate market had a solid start to 2014. According to the Multiple Listing Service (MLS) report released by the Austin Board of REALTORS, in January 2014 there were 1,449 single-family homes sold in the Austin area, which is 4% more than January 2013, and the median price for Austin-area homes was $211,800, which is 7% more than it was in the same month in 2013.
January 2014 Statistics
- 1,449 – Single-family homes sold, four percent more than January 2013.
- $211,800 – Median price for single-family homes, seven percent more than January 2013.
- 63 – Average number of days single-family homes spent on the market, nine days fewer than January 2013.
- 2,337 – New single-family home listings on the market, four percent more than January 2013.
- 4,591 – Active single-family home listings on the market, seven percent fewer than January 2013.
- 1,946 – Pending sales for single-family homes, five percent fewer than January 2013.
- 2.0 – Months of inventory* of single-family homes, 0.5 months less than January 2013.
- $393,536,808 – Total dollar volume of single-family properties sold, eight percent more than January 2013.
Austin homes continue to sell faster than in past years, spending an average of 63 days on the market in January 2014, which is a decrease of 9 days from last year. The market also featured 4% increase in new listings, 7% fewer active listings, and 5% fewer pending sales in January 2014 compared to last year.
Info-graphic & stats from Austin Board of REALTORS®
There’s no better time to move to Austin. This city has so much to offer and there’s no better time than now. Let Keller Williams help you find the right place for you. KW has a long reputation for being the best and we will make sure your housing experience is a good one.
Info-graphics from Keller Williams
Austin is a great city and the capitol of Texas, but still has an amazing small town feel. Get your move to Austin going and let Keller Williams get you there.