June Market Report – High Demand and Low Inventory

June 14, 2012 by · Leave a Comment 

·        28% more homes sold last month than the previous month.
However the number of homes for sale has only increased 3%.  More
buyers and fewer homes is why the average days on market for
homes sold is only 59 days.  This is 6% fewer days than last month
and 35% less days than one year ago.
·        Homes Pending, under contract but not yet closed, are at their
highest levels in the last 7 years, and since we only started recording
pending data in 2006, it might be the highest ever!
·        The average and medium prices of sold homes is rising due to
the higher overall demand.  These averages are increasing while
sales of the highest end homes, over $1M, are stagnant.

To view the entire report by Price Band, Area and Zip Code, CLICK HERE
About Laura

Laura is a third generation native of Austin who grew up in Tarry Town in Central Austin. She is the owner and broker of West Austin Properties and has been selling real estate in the Austin area since 1979. Laura is married to the love of her life, Brad, and they have two grown daughters. Together, they love to explore all of the fun spots Austin has to offer.