Monday, September 29, 2014

Austin-area home sales dip for second consecutive month in August 2014

Austin-area home sales dip for second consecutive month in August 2014

Austin Board of REALTORS® releases real estate statistics for August 2014

AUSTIN, Texas – September 18, 2014 – Austin-area home sales declined for the second consecutive month in August 2014 as rising home prices and housing affordability issues continue to affect the Austin-area housing market. According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS® (ABoR), Austin-area home sales decreased four percent year-over-year to 2,835 single-family home sales in August 2014.

Bill Evans, 2014 President of the Austin Board of REALTORS¬®, explained, “A majority of Austin-area homes are now priced out of an affordable range for first-time and first-time move up homebuyers, where a significant portion of home sales volume occurs. We need a regulatory environment that supports the development of affordable housing stock for the future stability of our Austin housing market. As we prepare for the new districted Austin City Council this November, ABoR encourages voters to seek leaders that will address our housing and development challenges. The Austin Land Development Code basically needs to be overhauled.”

According to the report, median price for single-family homes jumped 11 percent year-over-year to $247,500 and average price rose nine percent year-over-year to $311,414. Single-family homes continued to sell quickly as they spent an average 42 days on the market, one day fewer than August 2013.

Monthly housing inventory continued to increase in August 2014, rising 0.2 months from the year prior to 3.0 months. While still well below the Real Estate Center at Texas A&M University’s balanced housing inventory level of 6.5 months, Austin-area housing inventory levels could continue to rise as much-needed listings enter the market.

In August 2014, active listings jumped 10 percent year-over-year to 6,707 listings and new listings rose four percent during the same time frame to 3,310. In addition, pending sales increased one percent to 2,430 single-family home sales.

Evans concluded, “An increase in new and active listings is giving the market some much needed breathing room, but Austin’s housing inventory is still very low and has few affordable options. The new Land Development Code will be a crucial catalyst to sustainable market growth in 2015 and years to come, but it must be heavily revised in order to create housing options throughout the city that are affordable for all of Austin’s homebuyers.”

August 2014 Statistics
  • 2,835 – Single-family homes sold, four percent less than August 2013.

  • $247,500 – Median price for single-family homes, 11 percent more than August 2013.

  • $311,414 – Average price for single-family homes, nine percent more than August 2013.

  • 42 – Average number of days single-family homes spent on the market, one day fewer than August 2013.

  • 3,310 – New single-family home listings on the market, four percent more than August 2013.

  • 6,707 – Active single-family home listings on the market, 10 percent more than August 2013.

  • 2,430 – Pending sales for single-family homes, one percent more than August 2013.

  • 3.0 – Months of inventory* of single-family homes, 0.2 months more than August 2013.

  • $882,858,690 – Total dollar volume of single-family properties sold, four percent more than August 2013.
The following sections describe trends in other sectors of the Austin-area real estate market.

Townhouses & Condominiums

The volume of townhouses and condominiums (condos) purchased in the Austin area in August 2014 was 308, which is 13 percent less than August 2013. In the same time period, the median price for condos was $212,000, which is nine percent more than the same month of the prior year. These properties spent an average of 34 days on the market, six days fewer than August 2013.

Leasing

In August 2014, a total of 2,109 properties were leased in Austin, which is three percent more than August 2013. The median price for Austin-area leases was $1,500, which is seven percent more than the same month last year.

The Austin Board of REALTORS® (ABoR) is a non-profit, voluntary organization dedicated to educating and supporting Central Texas REALTORS®. ABoR proudly serves more than 10,000 members, promotes private property rights and provides accurate, comprehensive property listing information for the Greater Austin area. Home sales statistics are released by ABoR on a monthly basis. For more information, please contact the ABoR Marketing Department at marketing@abor.com or 512-454-7636. Visit AustinHomeSearch.com, a public resource on Austin real estate, for the latest news on the local housing market

* The inventory of homes for a market is 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.

Sunday, January 12, 2014

November Austin Statistics


Austin-area home sales rise 14 percent, hit seven-year high for November

Austin Board of REALTORS® releases real estate statistics for November 2013

AUSTIN, Texas  Dec. 19, 2013 – According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS® (ABoR), the volume of home sales continues to rise as November became the 30th straight month of sales volume increases and the most home sales in November since 2006.

According to the report, 1,899 single-family homes were sold in the Austin area, which is 14 percent more than November 2012. The median price for Austin-area homes was $219,530, which is 10 percent more than the same month in 2012.

Cathy Coneway, 2013 President of the Austin Board of REALTORS­®, explained, “With strong activity across all segments of the market, the Austin-area housing market has been full steam ahead through the holidays and the rest of the year, Our city’s population and job growth show no signs of slowing down, so 2014 will likely be another competitive year for Austin real estate.”

In November 2013, inventory remained at a historically low level of 2.3 months, which is more than half of a month less than November 2012. Additionally, homes spent an average of 51 days on the market, which is a decrease of 16 days from one year prior.

The total dollar volume of single-family properties sold was $555,757,542 or 24 percent higher than the same month last year. The market also featured the same amount of new listings, 11 percent fewer active listings and two percent more pending sales in November 2013 compared to the prior year.
November 2013 Statistics
  • 1,899 – Single-family homes sold, 14 percent more than November 2012.

  • $219,530 – Median price for single-family homes, 10 percent more than November 2012.

  • 51 – Average number of days single-family homes spent on the market, 16 days fewer than November 2012.

  • 1,967 – New single-family home listings on the market, statistically unchanged from November 2012.

  • 5,119 – Active single-family home listings on the market, 11 percent fewer than November 2012.

  • 1,756 – Pending sales for single-family homes, two percent more than November 2012.

  • 2.3 – Months of inventory* of single-family homes, more than half of a month less than November 2012.

  • $555,757,542 – Total dollar volume of single-family properties sold, 24 percent more than November 2012.
The following sections describe trends in other sectors of the Austin real estate market.
Townhouses & Condominiums
The number of townhouses and condominiums (condos) purchased in the Austin area in November 2013 was 223, which is 35 percent more than November 2012. In the same time period, the median price for condos was $195,200, which is eight percent more than the same month of the prior year. When compared to November 2012, these properties spent an average of 55 days on the market, or 38 percent less time.

Leasing
In November 2013, a total of 1,162 properties were leased in Austin, which is six percent more than November 2012. The median price for Austin-area leases was $1,390, which is seven percent more than the same month of the prior year.

The Austin Board of REALTORS® (ABoR) is a non-profit, voluntary organization dedicated to educating and supporting Central Texas REALTORS®. ABoR proudly serves more than 9,000 members, promotes private property rights, and provides accurate, comprehensive property listing information for the Greater Austin area. Home sales statistics are released by ABoR on a monthly basis. For more information, please contact the ABoR Marketing Department at marketing@abor.com or 512-454-7636. VisitAustinHomeSearch.com, a public resource on Austin real estate, for the latest news on the local housing market.
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* The inventory of homes for a market is 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.

Saturday, December 14, 2013

Area Market Statistics by Austin Board of Realtors // Great News



Austin-area Home Sales, Prices up Nine Percent in October

Austin Board of REALTORS® releases real estate statistics for October

 

AUSTIN, Texas  Nov. 21, 2013 – According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS® (ABoR), Austin-area home sales and prices increased nine percent in October.

According to the report, 2,145 single-family homes were sold in the Austin area, which is nine percent more than October 2012. The median price for Austin-area homes was $217,000, which is nine percent more than the same month in 2012. 

Cathy Coneway, 2013 President of the Austin Board of REALTORS¬® explained, “Given the last year of steady sales volume and home price increases, many have begun to wonder if Austin is in a housing bubble. This is not the case. Industry experts say the growth of Austin’s housing market has been fueled by true demand, not speculation. Our city’s high growth rate – currently estimated at 150 people per day – is a primary reason why we continue to see increases in home sales and prices.”

In October 2013, inventory dropped back to a historically low level of 2.5 months, which was first reached in January this year and is approximately one month less than October 2012. Additionally, homes spent an average of 48 days on the market, which is a decrease of 20 days from one year prior.

The total dollar volume of single-family properties sold was $600,548,520 or 11 percent higher than the same month last year. The market also featured 14 percent more new listings, 12 percent fewer active listings and eight percent more pending sales in October 2013 compared to the prior year.

October 2013 Statistics

  • 2,145 – Single-family homes sold, nine percent more than October 2012.

  • $217,000 – Median price for single-family homes, nine percent more than October 2012.

  • 48 – Average number of days single-family homes spent on the market, 20 days fewer than October 2012.

  • 2,559 – New single-family home listings on the market, 14 percent more than October 2012.

  • 5,540 – Active single-family home listings on the market, 12 percent fewer than October 2012.

  • 2,069 – Pending sales for single-family homes, eight percent more than October 2012.

  • 2.5 – Months of inventory* of single-family homes, about one month less than October 2012.

  • $600,548,520 – Total dollar volume of single-family properties sold, 11 percent more than October 2012.

The following sections describe trends in other sectors of the Austin real estate market.

Townhouses & Condominiums

The number of townhouses and condominiums (condos) purchased in the Austin area in October 2013 was 288, which is 40 percent more than October 2012. In the same time period, the median price for condos was $209,000, which is 14 percent more than the same month of the prior year. These properties spent an average of 47 days on the market, or 27 percent less time compared to October 2012. 

Leasing

In October 2013, a total of 1,281 properties were leased in Austin, which is eight percent more than October 2012. The median price for Austin-area leases was $1,400, which is eight percent more than the same month of the prior year. 

The Austin Board of REALTORS® (ABoR) is a non-profit, voluntary organization dedicated to educating and supporting Central Texas REALTORS®. ABoR proudly serves more than 9,000 members, promotes private property rights, and provides accurate, comprehensive property listing information for the Greater Austin area. Home sales statistics are released by ABoR on a monthly basis. For more information, please contact the ABoR Marketing Department at marketing@abor.com or 512-454-7636. VisitAustinHomeSearch.com, a public resource on Austin real estate, for the latest news on the local housing market.

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* The inventory of homes for a market is 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.

Sunday, November 17, 2013

Great info about Deed Restrictions in Texas.. tierra Grande Magazine

http://recenter.tamu.edu/pdf/410.pdf

Be ready to Enjoy this Gorgeous house... Heated pool and hot tub...

3701 Portofino Ct

AUSTIN, TX
Be Ready to Enjoy this Beautiful House with a heated pool and tub; 5 bedrooms 4.5 bathrooms.
5BR/4+1BA Single Family Houseoffered at $579,900
Year Built2000
Sq Footage3,797
Bedrooms5
Bathrooms4 full, 1 partial
Floors2
Parking2 Car garage
Lot Size.323 acres
HOA/Maint$61 per month

 
 
3701 Portofino Ct, Austin, TX 78732
 
 see more photos > 
REDUCED // DO NOT MISS THIS GORGEOUS CUL-DE-SACS CORNER LOT HOME IN THE PRESTIGIOUS STEINER RANCH COMMUNITY....

Beautiful House with custom and heated pool and hot tub to enjoy all year; 5 bedrooms (master and guest on main floor) 4.5 baths plus Study and Spacious Game room with great views to natural preserve. Great deck and stone patio ready for grilling under shady oaks. 

Gourmet kitchen, granite counters, large island and tons of cabinets, Tile throughout downstairs. 95% of drapes included. $125K in upgrades. 

Community features clubhouse, kitchen facilities, lake privileges, pool-community, sports courts including golf.

Near to everything, 620, 183, 45 and 71. Galleria Mall and Lakeland Mall, restaurants, shopping, etc

For more info or a private tour, please Call or Text @ 512-696-3015.

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Victoria Pando
Dunamis Realty Group LLC
TX Broker Lic# 576601
(512) 696-3015
For sale by agent/broker
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