Archive for the ‘Austin’ Category

Everything is set for the Austin housing market to record its Strongest summer

Wednesday, August 29th, 2012

The Austin housing market is finally on the right path for a recovery. According to the MLS (Multiple Listing Service) report published by ABOR (Austin Board of Realtors), home sales in the area are up for the 13th month in a row.  Also, competition for houses in Austin is pushing home prices up when compared to the same period a year ago. This makes June the fifth month of positive numbers in terms of home prices.

Putting the great news into stats, June in the Austin area housing market looks like this: 2,593 homes have changed ownership, accounting for 23% rise in home sale transactions compared to the same period last year. While the median price paid for a home was $200,882 in June 2011, this year the median price has jumped another 8% reaching $218,350.

According to the chairman of Austin Board of Realtors, Leonard Guerrero, this year is set to become the Austin area housing market’s best summer, since the onset of the financial crisis. Everything is set for a strong summer season of the real-estate market with a healthy housing inventory, and a 23% drop in days a home spends on the market. In other words, every sign shows Austin has become a seller’s market, the chairman commented.

The housing inventory stood at 4.4 months, 2.3 less than a year prior, and the market recorded a 6% increase in new listings reaching 3,334 new single-family home listings, but had a 20% drop in active listings for June 2012, as there were 7,738 active single family home listings on the Austin market. However, there were 1,424 pending sales, 15% more this year than recorded in June 2011. On average a homes’ days have reached a 17 day drop as compared to a year ago, dropping to 58 days

It isn’t all doom and gloom however, as schmidt does state that he and his company are in daily contact with apple, although he gathering doesn’t give any indication what it is they are talking about