New Numbers Indicate Hot Austin Housing Market

AUSTIN — The Austin housing market is red hot according to new numbers released by the Austin Board of Realtors Wednesday.

Januaury  home sales are up 33 percent from last year and realtors say there is  no reason those numbers will slow down anytime soon.
In January 1,402 houses sold in the Austin region, which includes Round Rock and San Marcos.

That’s  the highest number of homes sold in the month of January in the past  six years. The median price is up too. It rose 10 percent to $197,900.

The Austin Board of Realtors says this means 2013 could truly be a seller’s market.

The fastest growth right now is concentrated in the central, downtown and northwest areas of Austin.

“A  particular property might have two, three, even four separate offers on  it, and it’s up to the seller at that point to decide which offer is  the one that best gives results for them,” said Leondard Guerrero from  the Austin Board of Realtors.
According to the new report, homes spent just 71 days on the market. That’s two weeks less than just one year ago.

The  board is warning that the housing supply is drying up in the Austin  area. Right now Austin has the lowest amount of inventory in the past  decade.

Compliments of: Charlotte Lipscomb | Austin Portfolio Real Estate | 512.789.6225

Original Article by: JADE MINGUS / KVUE News

Visit the original article here.

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