June 2013 Austin Real Estate Market Report

June 7, 2013 by · Leave a Comment 

Off to Austin

The Austin real estate market continues to sizzle with historically low inventory and huge demand from the multitude of buyers trying to buy homes here right now. Austin is THE destination of choice for many new residents and the impact can be felt in all areas of the city. Take a look at our June 2013 Market Report for sales data by subdivision and zip code.

Here are a few stand out statistics:

More homes sold in May than in any other May on record.
There are 30% fewer homes on the market than a year ago and the lowest number in over 10+ years.
Overall, the market is in an Extreme Seller’s Market, with strong appreciation for all homes priced under $600,000.  Mulitple offers and sales over list price are routine now as demand outpaces supply.
Average sold home values are up 9% and median sold home values are up 8% from one year ago.
The average days on market of homes sold in May was 41 days, the fewest average days on market on record.
Interest rates are on the rise, and as the government ceases to buy mortgage backed securities, this trend should continue.
If you’ve been waiting to buy a home in Austin, now is the time to buy before rates and prices increase further. Please let us know how we can serve you with any of your real estate needs. We are here to help!
Laura Duggan, 512-750-2425, laura@westaustin.com   Gail Boston, 512-626-5348, gail@westaustin.com
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.