Austin Texas Real Estate Market Report July 2013

By
Real Estate Agent with Austin Home Team @Keller Williams Realty

Austin, Texas real estate market report for July 2013.  

The headline in the newspaper said the Austin real estate market is "scorching." Let's look at the most recent statistics and talk about what they mean for you as a home buyer or seller.  

 

Our market continues to be driven by the low inventory of homes for sale and a population growth estimated by the Chamber of Commerce to be 147 people per day. We have a classic case of low supply and high demand. 

Median price was $235,000 in June 2013 which is UP 8% from June 2012.

Months supply of homes for sale is down to 2.9 in June2013 compared to 4.9 months in June 2012. 

 

Austin Real Estate Market Statistics July 2013Austin Real Estate Market Inventory

 

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According to Gracy Title 25% of homes are selling in the first week on the market. That means buyers need to be pre-approved and working with a local REALTOR who can help them view homes as soon as they come up for sale. I don't see prices coming down but with interest rates trending upwards we may see less buyers than we have so far this year.

For sellers it is still as sellers' market. As some seller who were on the fence have seen the market change and equity return to their homes we have seen 3 straight months of increased over last year. Of course the inventory level is so low this is the real estate equivalent of it raining hard for a few days and thinking Lake Travis will be full. It will likely be a long time before we return to a more balanced market. 

 

 

 

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Eric Peterson

Austin Home Team at Keller Williams Realty

www.AustinHomeTeam.com

eric@AustinHomeTeam.com

Phone (512) 791-7473

12515-8 Research Blvd, Ste 100

Austin, TX 78759

 

Comments (2)

Brenda J. Andrew
ULTIMA REAL ESTATE - Corpus Christi, TX
Professional Realtor in Corpus Christi, TX
Great information and very well done. Looks like your market may be doing better than ours. It is good things have picked up.
Aug 03, 2013 10:21 PM
Bob Ratliff
Robert Ratliff Realty - San Antonio, TX
"Sold with Bob"

Eric, very impressive market report and I had to laugh you was the guy I was speaking about today doing the video on Austin Market Report. See AR does work, yesterday when I was Goggling for Austin Market Report for July 2013 your blog post ranked on the first page of my search. 

Video's are powerful and you will soon be soaring above the crowd if you keep using these great video market reports. I wish I had your skills. I suggested this post because more agents should use video including me.

Aug 21, 2013 09:44 AM