December 2012 was another good month for the Austin real estate market. December marked the 19th straight month of existing home sales volume increases, according to a recent report released by the Austin Board of Realtors®.
How good is the Austin market right now? There are 1,531 single-family homes for sale within Austin as of 01/15/13, averaging 107 days on the market. When a market averages under 180 days, it is said to be a ‘sellers’ market, so 107 days on the market means that the Austin real estate market is flourishing.
Looking at the complete Austin real estate statistics for all of 2012, there were 10,349 single-family homes sold with a median sold price of $125.62 per square foot ($260,500) and averaging 52 days on the market. In 2011, there were only 8,738 homes sold with a median sold price of $119.50 per square foot ($248,125) and averaging 71 days on the market. This is an 18.44% increase in the number of homes sold, a 5.12% increase in the median sold price per square foot, a 4.99% increase in sold prices (total dollars), and a 26.76% decrease in the days on market, compared to 2011.
Even the higher priced luxury homes, which have been the struggling segment of the Austin market, has been showing improvement.
For all of 2012, a total of 287 luxury homes were sold, for an average price of $1.69 million and a median price of $1.37 million. Luxury homes sold with an average of 126 days on the market and a median 73 days on the market. Sold square foot prices averaged about $324 per square foot.
In comparison, for the entire year of 2011, only 221 luxury homes were sold with an average price of $1.63 million and a median price of $1.36 million. Luxury homes sold with an average of 131 days on the market and a median 85 days on the market. Sold square foot prices averaged about $309 per square foot.
Below is an infographic detailing how the Austin Real Estate Market performed in December 2012
Austin Real Estate Market Update | Sell Your Austin Home Fast
Although the real estate market in Austin, Texas, looks good, there are still folks out there who are struggling to sell their home fast. This problem can be because of little or no equity, negative equity, repair, or many other reasons.
At Hippie Hollow Homes, we are passionate about solving problems for distressed homeowners by using the multiple outside the box strategies that have helped us successfully participate in more than 1,200 real estate transactions in the Central Texas real estate market since 2004.
In addition to practicing the traditional real estate model, we also network with thousands of real estate investors nationwide that are interested in purchasing houses quick. Many have cash and can buy outright while others will utilize some of our creative strategies to ensure a win-win transaction.
Our promise to you is that we will always treat you with courtesy and respect, no matter what your situation is. Hippie Hollow Homes is uniquely different from any other real estate solutions provider. Contact us and we guarantee the following:
- We will always make you an immediate offer
- We will always offer to list your home, with one of our affiliate agents, with our purchase offer as a back-up
- We will also make you some creative offers that may be more beneficial to your situation and timeframe
- We will share with you a market analysis on your home, that determines it’s as-is value, in today’s market, compared to homes recently sold around yours
- Our offers are no-pressure, no-obligation
The only way we cannot help you is if you do not contact us today.