Austin-area Home Sales Volume and Median Price Up in March 2012

Austin Board of REALTORS® Releases March 2012 Real Estate Statistics

AUSTIN, Texas – April 19, 2012 – According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®, 1,852 single-family homes were sold in the Austin area in March 2012, which is 15 percent more than March 2011. During the same time period, the median price for Austin-area homes was $200,000, or eight percent more than the same month of the prior year.

Leonard Guerrero, Chairman of the Austin Board of REALTORS®, commented, “This marks the tenth month in a row Austin has seen year-over-year increases in sales volume. In addition, another healthy increase in the median price indicates competition is increasing among buyers as the inventory of homes continues to shrink.”

In March 2012, the Austin market had 4.4 months of inventory, 1.8 months less than March 2011. In addition, the market featured four percent fewer new listings, 21 percent fewer active listings and 16 percent more pending sales in March 2012 compared to the prior year. On average, homes spent 84 days on the market in March 2012, or 12 days less than March 2011. 

Buying a home in Austin is an exciting proposition. It is important to have a representative who has  an in-depth knowledge of the market and a personal investment in your satisfaction. This can be essential to ensure that you find the home that is right for you, and that the process goes smoothly from the search throughout the transaction. I specialize in helping people that are interested in buying or leasing property in Central Austin. I will provide you with the helpful information needed to make an educated home-buying decision, without you feeling pressured or overwhelmed. If you have any questions regarding properties that you are interested in please feel free to Contact Me.