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Hello! Austin Real Estate News --------------------------------------------------------- Austin Home Sales Maintain Last Year’s Pace! According to the Multiple Listing Service (MLS) report released by the Austin Board of REALTORS®, Austin-area home sales continued last year’s competitive pace in May 2014 while prices increased. Also, for the first time in more than three years, the number of active listings on the market grew compared to the prior year. Bill Evans, 2014 President of the Austin Board of REALTORS®, explained, “The Austin market has been in need of housing stock for some time now, so it’s encouraging to see an increase in listings over last year. With sales volumes remaining strong, the market is still competitive, but the options for buyers are beginning to increase.” The total inventory* of Austin-area homes in May 2014 was 2.6 months, the highest rate of inventory seen in Austin since last September but still a slight decrease of 0.1 months from May 2013. Measured in months, Austin’s monthly housing inventory is the result of the current number of active listings divided by the average home sales per month of the prior 12 months. Evans explained, “The May 2014 increase in active listings was not quite enough to offset Austin’s continual year-over-year decrease in housing inventory, which looks at homes sales over a 12-month period. However, if active listings continue to increase on a monthly basis, we will eventually see an increase in Austin’s housing inventory level.” Active listings increased by four percent and new listings increased by seven percent in May 2014 compared to the prior year. Homes also continued to sell quickly, spending an average of 40 days on the market, which is four days less than one year prior. Evans concluded, “While more properties are beginning to come on the market, the price appreciation we’ve seen in recent years is continuing as well, so buyers and sellers should both expect a busy summer selling season.” May 2014 Statistics • 2,943–Single-family homes sold, three percent more than May 2013. • $325,926–Average price for single-family homes, eight percent more than May 2013. • 40–Average number of days single-family homes spent on the market, four days fewer than May 2013. • 4,002–New single-family home listings on the market, seven percent more than May 2013. • 5,949–Active single-family home listings on the market, four percent more than May 2013. • 2,928 –Pending sales for single-family homes, two percent more than May 2013. • 2.6 –Months of inventory of single-family homes, 0.1 months less than May 2013. • $959,200,218–Total dollar volume of single-family properties sold, 11 percent more than May 2013. In the News Home Tour to Celebrate Austin’s Eclectic Side Think Austin Homes are Expensive? Here’s What Pricey Really Looks Like. Central Texas Leads State in Small Land Transactions Six Surprising Real Estate Trends Keep Up With Better Homes and Gardens Real Estate Bradfield Properties ----------------------------- ----------------------------------------------------------------------------------------- On the Market 12915 Noyes Lane Austin, Texas 78732 $425,000 1211 W. Mary #3 Austin, Texas 78704 $775,000 5903 Cartwright Cove Austin, Texas 78731 $475,000 10105 Planters Woods Drive Austin, Texas 78730 $525,000 6304 Bon Terra Drive Austin, Texas 78731 $949,000 11300 Grazing Deer Trail Austin, Texas 78735 $815,900 ----------------------------------------------------------------------------------------- Real Estate Quick Tips - Kitchen Updates on a Budget For more lifestyle and home improvement videos, visit the Better Homes and Gardens Real Estate YouTube Channel here. Mortgage Rates Reverse, Drop Slightly Consumer Confidence, New Home Sales Return to 2008 Levels
