April Austin Market Report – Market Changing Quickly

During the  Spring and early Summer it is normal to  see the number of homes for sale, houses under contract and homes sold increase each month.  This trend continues until mid Summer. This year the trend continues with some very specific differences.
• Number of homes for sale  are at seven year record lows. This month there are 23% fewer homes for sale than last year and 34% fewer than 2010!
Demand for homes is rising. More homes have sold in Austin during the first three months of the year compared to 2011 and 2010 and 2009.  And Pendings, homes under contract are at a seven year high.
• In one month,  Month’s of Inventory has decreased 33%, from 6.14 Months of Inventory to 4.12 Months of Inventory.   This is one of the most significant declines for March in the last seven years.
• In one month the Austin market has moved from a “Balanced Market” to a “Normal Sellers Market.”

To view the 13 page Report go to the Market Reports tab above or click here: