AUSTIN, Texas – Feb. 21, 2014 – The Austin real estate market showed a solid start to 2014, according to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS® (ABOR).
In January 2014, 1,449 single-family homes were sold in the Austin area, which is four percent more than January 2013, and the median price for Austin-area homes was $211,800, which is seven percent more than the same month in 2013.
This month, Forbes magazine cited Austin as the fastest growing city in the country for the fourth year in a row. That growth has driven demand for housing in Austin and contributed to decreasing housing inventory. In January 2014, the Austin market featured 2.0 months of inventory, compared to 2.5 months of inventory in January 2013. In contrast, the Real Estate Center at Texas A&M University cites 6.5 months of inventory as a market in which supply is balanced with demand, meaning demand for Austin homes continues to significantly outstrip demand.
January 2014 Statistics
- 1,449 – Single-family homes sold, four percent more than January 2013.
- $211,800 – Median price for single-family homes, seven percent more than January 2013.
- 63 – Average number of days single-family homes spent on the market, nine days fewer than January 2013.
- 2,337 – New single-family home listings on the market, four percent more than January 2013.
- 4,591 – Active single-family home listings on the market, seven percent fewer than January 2013.
- 2.0 – Months of inventory* of single-family homes, 0.5 months less than January 2013.
Leasing
In January 2014, a total of 1,317 properties were leased in Austin, which is 15 percent more than January 2013. The median price for Austin-area leases was $1,370, which is seven percent more than the same month of the prior year.
See full press release here: https://www.abor.com/news_media/press_releases/2014/p3_14.cfm
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