It’s another great day in the Austin neighborhood for real estate. Last week the Austin Board of Realtors announced homes sales jumped 15% during March 2012 (compared with March 2011).
Along side of that bit of encouraging news was the increase in the price of the average home sale in Austin -- now $200,000 – an 8% increase. 
This milestone marks the 10th straight month, in a row where Austin has experienced an increase in sales volume.
Match that information with the fact there are only 3,350 new listings on the market, or 4 percent less than one year ago.
It gets more impressive, there were 2,331 pending sales in March, or 16 percent more than last year and the he total volume of single-family properties sold was $480,471,768, a 22% increase year over year.
Is there a problem? YES! Many home owners who do not want or need to sell their homes now are taking the “Wait and See” position in hopes their homes will increase in value during the next 6 months to a year, especially those in the Central areas, causing the limited supply.
The headlines on Austin (along with JOBS) are feeding the buying frenzy as well as the seller freeze.
Each week brings new media focus on our weird, little city. Recent HEADLINERS include an article from Forbes on Austin as one of the fastest growing cities in the U.S.; news on the development on the West side of Downtown at 6th and Lamar; plans for the near 
Downtown redevelopment of the Austin Energy site, a 6-acre water treatment plant at West Cesar Chavez and San Antonio streets and lastly, Bloomberg’s take on Austin as a “Middleweight” city that will drive more than 10% of the WORLD’S growth for the foreseeable future. Wow!
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