A new report released by Freddie Mac last week rank Austin 3rd in the nation as a stable real estate market, ahead of national averages and way ahead of most other major metropolitan areas. Along with San Antonio and Houston, Austin is experiencing a period of growth while many other markets are stalling. The April real estate statistics for Austin released last week by the Austin Board of Realtors make the point all the more clear. “Austin-area home prices are rising as the strong demand of the market continues,” said Bill Evans, 2014 President of the Austin Board of REALTORS®. “We continue to see multiple offers on listings, often above listing price. This increasing valuation of Austin-area homes could encourage more listings to enter the market, indicating a strong summer selling season ahead,”
Here are some highlights from the ABOR MLS report:
Median home price is $239,900 – 3.5% higher than March 2014, 6% higher than last year
2,479 single family homes sold – 10% higher than March 2014, 1% higher than last year
322 condos and townhomes sold – 14% higher than March 2014, 32% higher than last year
Average days on the market are down to 45 days – 6 days fewer than March 2014, 5 days fewer than last year
Both house and condo/townhouse sales were at an all-time high for Austin in April. Real estate is selling faster than ever at higher prices – and this means both buyers and sellers need a real estate professional making sure they are getting the best possible deal. Buyers may never know the home of their dreams could be available, and never listed on the MLS. In a market this competitive, the most desirable homes and neighborhoods often move so quickly that only the insiders ever know about it. Sellers are likely to find themselves in multiple offer situations, which can be difficult to navigate. The Shannon Schmitz Group is here for you – we love our city, and we KNOW Austin. We offer our clients specialized service and personal attention with integrity.