December 2011 Statistics
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1,581 – Single-family homes sold, 11 percent more than December 2010.
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$187,940 – Median price for single-family homes, one percent less than December 2010.
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89 – Average number of days that single-family homes spent on the market, nine days less than December 2010.
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1,383 – New single-family home listings on the market, 12 percent less than December 2010.
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6,605 – Active single-family home listings on the market, 19 percent less than December 2010.
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1,229 – Pending sales for single-family homes, 12 percent more than December 2010.
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4.1 – Months of inventory* of single-family homes, 1.4 months less than December 2010.
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$385,035,159 – Total dollar volume of single-family properties sold, nine percent more than December 2010.
The report also included figures for all of 2011, during which 19,220 Austin-area single-family homes were sold, which is seven percent more than 2010. Over the course of the year, the median price of homes in Austin remained statistically unchanged from the prior year at $193,000 and homes spent an average of 84 days on the market, which is seven days longer than 2010. At the same time, the Austin real estate market featured 12 percent fewer new listings, 15 percent fewer active listings and seven percent more pending sales.
Chairman Guerrero concluded, “We are pleased to see Austin’s real estate market end the year on a positive note. With a surge in sales volume over the second half of 2011 and strong demand evident in December, we’re optimistic about the health of our market for the coming year.”
2011 Year-End Totals
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19,220 – Single-family homes sold, seven percent more than 2010.
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$193,000 – Median price for single-family homes, unchanged from 2010.
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84 – Average number of days that single-family homes spent on the market, seven days more than 2010.
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30,668 – New single-family home listings on the market, 12 percent less than 2010.
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8,609 – Active single-family home listings on the market, 15 percent less than 2010.
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21,002 – Pending sales for single-family homes, seven percent more than 2010.
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$4,931,910,843 – Total dollar volume of single-family properties sold, nine percent more than 2010.
The following sections describe trends in other sectors of the Austin real estate market.
Townhouses & Condominiums
The volume of townhouses and condominiums (condos) purchased in the Austin area in December 2011 was 157, which is 17 percent more than December 2010. In the same time period, the median price for condos was $179,900, unchanged from December 2010. When compared to the same month of the prior year, these properties spent three more days on the market, or an average of 92 days.
Over the course of 2011, 1,970 Austin condos were sold, which is one percent more than 2010; the median price was $167,750, or six percent more than 2010; and condos spent an average of 94 days on the market, 10 days longer than 2010.
Leasing
In December 2011, 1,030 properties were leased in Austin, which is eight percent less than December 2010. The median price for Austin-area leases was up nine percent at $1,250 when compared to the same month of the prior year. In all of 2011, a total of 15,948 properties were leased in Austin, which is three percent more than 2010, and the median lease price was $1,250, or four percent more than 2010.
The Austin Board of REALTORS® is a non-profit, voluntary organization representing more than 8,500 licensed REALTORS® in Central Texas. Visit AustinHomeSearch.com, a public resource on Austin real estate, for the latest news on the local housing market.
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