May 2013 Satistics for Austin, Texas
AUSTIN, Texas – June 20, 2013 According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS® (ABoR), the volume of Austin-area home sales continues to rise, as May 2013 marked two straight years of sales volume increases and the most home sales in May on record.
According to the report, 2,991 single-family homes were sold in the Austin area in May 2013, which is 29 percent more than May 2012. On average, homes spent 44 days on the market, which is a decrease of 19 days from one year prior.
Cathy Coneway, 2013 Chairman of the Austin Board of REALTORS®, explained, “This is a great month for the Austin-area housing market. This is a record month with nearly 3,000 single-family homes sold in May—an incredible trend I expect to continue through the summer.”
The total dollar volume of single-family properties sold was $904,460,454, or 40 percent higher than the same month last year. The market also featured 11 percent more new listings, 24 percent fewer active listings and 10 percent more pending sales in May 2013 compared to the prior year.
In May 2013, the median price for Austin-area homes increased to $231,500, which is eight percent more than the same month in 2012. Additionally, the market featured 2.7 months of inventory in May 2013, which is 1.7 months less than May 2012.
Coneway adds, “The Austin Chamber of Commerce states that 150 people move to the Austin area every day, so it’s no surprise homes are selling at a rate not seen since 2001. With these numbers, it’s important that our housing inventory remain strong to meet this unprecedented demand.”
May 2013 Statistics
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