The Austin Board of Realtors just released the numbers for April of this year, and it looks like April proved to be a better month overall than March. Here are the fast facts from this month's findings:
- Single family homes spent just 66 days on the market on average, the shortest period in seven months. This is a good indicator that the market is picking up a bit over the past few months.
- Home prices continue to rise. April showed a 2% increase, to $187,900, in the median price of single family homes over those in the same month of '07.
- Overall sales were down 15% from this time last year.
- 58% of homes sold were in the price range between $120,000 to $250,000.
- The hottest areas continue to be in South Austin (areas 10N and 10S), Far East Austin (area 3E), Elgin, and North Austin near the Domain (2N).
- 1,981 was the number of single-family homes sold. A 14% decrease from last year.
So, overall Austin has definitely softened over last year, and we're certainly in a buyer's market. But, let's keep in mind that last year was one of the biggest years on record for real estate sales, and that Austin is somewhat insulated from the volatility of other markets due to its lower cost of living, good job market, and desireability.
To learn more about the Austin Real Estate Market or the Austin Board of Realtors, go to https://www.abor.com/news_media/media_room.cfm
If you have questions about how this buyer's market affects you and your real estate plans, feel free to call or email us at 512-454-8955 or erin@austinhbc.com
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