I just posted the Market survey under the Weblinks tab. For quick reference go here!
Showing posts with label Market Statistics. Show all posts
Showing posts with label Market Statistics. Show all posts
Wednesday, April 11, 2012
Positive signs for 2012!
I've spent over a week pulling reports and analyzing statistics and now have a nicely compiled little Market Survey summarizing what all those #1 Articles keep saying... ...Austin is where it's at for prime real estate investments!
I just posted the Market survey under the Weblinks tab. For quick reference go here!
I just posted the Market survey under the Weblinks tab. For quick reference go here!
Tuesday, February 28, 2012
Rental Rates Surged in 2011
Wrapping up the leasing season for 2011 proved to be an incredibly lucrative year for rental investors and home owners. Rentals rates surged in 2011 as compared to 2010. Price per square foot peaked in the 3rd quarter of 2011 at $0.98, representing a $0.07 increase from the same quarter 2010. Rental velocity increased by over 450 residences from 2010 to 2011. It will be interesting to see if leasing velocity continues to rise over 2012. All signs are pointing to prove the rental market in 2012 will continue much as it did in 2011. The interesting factor here will be if rental renewals are strong. With the mortgage rates at an unprecedented low more and more renters are considering it a great chance to buy a home at a low rate.Angelo Angelou, Economist recently reported 39,000 people moved to the Austin area. Predictions of inward migration continue in a positive nature with 42,000 more in 2012 and 48,000 in 2013. With the migration influx you can bet the housing market will continue to tighten, especially the rental market as many people find it easier to first rent, determine where they want to settle in permanently and then purchase a long term home.
Leasing stats compiled from ACTRIS MLS Systems.
Migrations stats shared from ABJ.
Migration Patterns Imagery from Real Estate Center at TAMU
Thursday, February 23, 2012
Austin-area home sales volume up 10 percent in January compared to 2011
Austin Board of REALTORS® releases real estate statistics for January
AUSTIN, Texas – February 21, 2012 – According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®, 1,051 single-family homes were sold in the Austin area in January 2012, which is 10 percent more than January 2011. During the same time period, the median price for Austin-area homes was $176,550, seven percent less than the same month of the prior year.
Leonard Guerrero, Chairman of the Austin Board of REALTORS®, commented, “It is encouraging to see last year’s momentum continue into the New Year. January marks the eighth straight month in which the volume of home sales in Austin has outpaced the previous year and the inventory of homes has decreased.”
Austin-area homes spent an average of 85 days on the market in January 2012, eight days less than the same month of the prior year. Compared to January 2011, the Austin market also featured six percent fewer new listings, 19 percent fewer active listings and 16 percent more pending sales in January 2012.
The Austin market had 4.1 months of inventory in January 2012, or 1.4 months less than January 2011. The figure, unchanged from December 2011, marks the lowest inventory level the Austin market has seen since the organization began tracking the statistic in January 2009.
January 2012 Statistics
Leonard Guerrero, Chairman of the Austin Board of REALTORS®, commented, “It is encouraging to see last year’s momentum continue into the New Year. January marks the eighth straight month in which the volume of home sales in Austin has outpaced the previous year and the inventory of homes has decreased.”
Austin-area homes spent an average of 85 days on the market in January 2012, eight days less than the same month of the prior year. Compared to January 2011, the Austin market also featured six percent fewer new listings, 19 percent fewer active listings and 16 percent more pending sales in January 2012.
The Austin market had 4.1 months of inventory in January 2012, or 1.4 months less than January 2011. The figure, unchanged from December 2011, marks the lowest inventory level the Austin market has seen since the organization began tracking the statistic in January 2009.
January 2012 Statistics
- 1,051 – Single-family homes sold, 10 percent more than January 2011.
- $176,550 – Median price for single-family homes, seven percent less than January 2011.
- 85 – Average number of days that single-family homes spent on the market, eight days less than January 2011.
- 2,266 – New single-family home listings on the market, six percent less than January 2011.
- 6,557 – Active single-family home listings on the market, 19 percent less than January 2011.
- 1,638 – Pending sales for single-family homes, 16 percent more than January 2011.
- 4.1 – Months of inventory* of single-family homes, 1.4 months less than January 2011.
- $236,043,039 – Total dollar volume of single-family properties sold, one percent less than January 2011.
Townhouses & Condominiums
The volume of townhouses and condominiums (condos) purchased in the Austin area in January 2012 was 121, which is 27 percent more than January 2011. In the same time period, the median price for condos was $159,500, four percent more than January 2011. When compared to the same month of the prior year, these properties spent seven percent longer on the market, or an average of 107 days, in January 2012.
Leasing
In January 2012, 1,129 properties were leased in the Austin area, which is five percent less than January 2011. During the same time period, the median price for Austin-area leases was $1,250, nine percent higher than the same month of the prior year.
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The Austin Board of REALTORS® is a non-profit, voluntary organization representing more than 8,500 licensed REALTORS® in Central Texas. Visit AustinHomeSearch.com, a public resource on Austin real estate, for the latest news on the local housing market. For more information, please contact Angela Brutsché at 512-454-7636.
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* The inventory of homes for a market can be measured in months, which is defined as the number of active listings divided by the average sales per month of the prior 12 months. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.
Information provided by Austin Board of Realtors®. Monthly Market Statistics, January 2012
Friday, October 28, 2011
Austin and Many Texas Cities continue to rank in Forbes Top Lists
Once again Forbes magazine has ranked Austin as the Best Big City for Jobs followed by 3 other Texas Metro Cities leaving 4 of the Top 5 ranked, cities in the Lone Star State!
Being from Austin we keep hearing Austin toping the charts of many polls and ranking reports so this isn't quite news to me, however it is continued reassurance that Austin continues to distance herself from the woes of our national economy.
Every time I hear Austin ranking at the top of a new poll I do get a bit worried. Yes, I am a Realtor® and my success relies heavily on the growth of the metroplex, however as a loyal and proud Austinite I also recognize the changes this means for my humble little 'town'. I am not a born Austinite, but this town is all I've known since I was 10 years old. Austin is where I consider home! With the love of my hometown I see the changes that have taken place and that will continue to take place. The big developments changing our skyline, the natural habitats that are so dear to the hill country's ecology that surrounds our city slowing losing the fight against the big developer.
With the growth comes consequence and I hope the people who have decided to move to Austin based on what they've read or heard come here and appreciate it for what it truly is and not for an opportunity to take advantage of it's blossoming state. There are a lot of opportunities to capitalize on, many of which could change the feeling and the scene that is Austin. This is a city where people treat pets with the same humanity they treat themselves (Which means they get to attend happy hours and sit on sunny breakfast patios) This is a city where people will still allow you to merge into traffic and also wave thanks from their rearview when you let them over. This is a city where the almighty food trailer is respected and expected to be incredible. This is a city where you can throw your 2-day dirty hair in a barrette and go have a michelada at 2pm. This is a youthful, liberal town centered on creativity and passion. This is not city where tangible items create you or where The W is the place to be any day of the night. This is a city where live music is the heartbeat. A heartbeat that is threatened with every new downtown condo high rise. You see, many (not all) of the people who soaked up the condo's are now the ones complaining of late night noise pollution from clubs that have been the historic backbone of Austin. These people who moved here because they read or heard how incredible it would be to live here are the very ones changing the scene and the course of what Austin is known for.
We are expected for 1 million more in the next decade. Im not sure Austin can handle this expected growth without some drastic changes. Our most notable issue is traffic. We dont have enough roads. We dont have proper public transportation and the rail system launch was a complete joke. Many generational Austinites have refused to vote for road improvements or light rail thus spinning Austin into a downward spiral of catchup. I hope city council and all the regional mobility authorities can get a well rounded and comprehensive plan in place and started prior to the end of this decade. Otherwise I bet we will begin to see Austin's chart toping reputation decline...
Rankings information from "Texas Rising", From the Texas Comptroller of Public Accounts
Being from Austin we keep hearing Austin toping the charts of many polls and ranking reports so this isn't quite news to me, however it is continued reassurance that Austin continues to distance herself from the woes of our national economy.
Every time I hear Austin ranking at the top of a new poll I do get a bit worried. Yes, I am a Realtor® and my success relies heavily on the growth of the metroplex, however as a loyal and proud Austinite I also recognize the changes this means for my humble little 'town'. I am not a born Austinite, but this town is all I've known since I was 10 years old. Austin is where I consider home! With the love of my hometown I see the changes that have taken place and that will continue to take place. The big developments changing our skyline, the natural habitats that are so dear to the hill country's ecology that surrounds our city slowing losing the fight against the big developer.
With the growth comes consequence and I hope the people who have decided to move to Austin based on what they've read or heard come here and appreciate it for what it truly is and not for an opportunity to take advantage of it's blossoming state. There are a lot of opportunities to capitalize on, many of which could change the feeling and the scene that is Austin. This is a city where people treat pets with the same humanity they treat themselves (Which means they get to attend happy hours and sit on sunny breakfast patios) This is a city where people will still allow you to merge into traffic and also wave thanks from their rearview when you let them over. This is a city where the almighty food trailer is respected and expected to be incredible. This is a city where you can throw your 2-day dirty hair in a barrette and go have a michelada at 2pm. This is a youthful, liberal town centered on creativity and passion. This is not city where tangible items create you or where The W is the place to be any day of the night. This is a city where live music is the heartbeat. A heartbeat that is threatened with every new downtown condo high rise. You see, many (not all) of the people who soaked up the condo's are now the ones complaining of late night noise pollution from clubs that have been the historic backbone of Austin. These people who moved here because they read or heard how incredible it would be to live here are the very ones changing the scene and the course of what Austin is known for.
We are expected for 1 million more in the next decade. Im not sure Austin can handle this expected growth without some drastic changes. Our most notable issue is traffic. We dont have enough roads. We dont have proper public transportation and the rail system launch was a complete joke. Many generational Austinites have refused to vote for road improvements or light rail thus spinning Austin into a downward spiral of catchup. I hope city council and all the regional mobility authorities can get a well rounded and comprehensive plan in place and started prior to the end of this decade. Otherwise I bet we will begin to see Austin's chart toping reputation decline...
Rankings information from "Texas Rising", From the Texas Comptroller of Public Accounts
Tuesday, September 27, 2011
Austin Real Estate Market Stats
The Austin Real Estate Market has begun to show some signs of slowing down. Usually at this time of year we expect a minimal slowing of sales volume accompanied by a reduction in median home sales price. It is nothing I would be too concerned about. Its a good time for buyer's still as the market remains highly saturated. It is also a good time for landlords renting their homes. Stay tuned later this week for Austin metro Rental stats...
Aug-11 Quick Sales Facts: (Source: Austin Board of Realtors®)
- The median price of existing single-family homes decreased to $195,000 down -0.8% vs Jul-11.
- Existing single-family home sales decreased -1.2% from Jul-11 for a Aug-11 total of 1,666 sold units.
- Condos decreased in price to $159,250 down -2.0% vs Jul-11.
- Existing condo sales increased 2.1% in Aug-11 over Jul-11 for a total of 196 sold units.
Click the link below for visual charts and graphs illustrating sales trends...
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