Home sales outpace prior year for 7 straight months

According to the Austin Board of Realtors and the Multiple Listing Service (MLS), single-family home sales in December 2011 outpaced the same month of the prior year for the seventh straight month, and year-end figures show momentum in Austin real estate heading into 2012.  2011 ended with increased sales volume, stable prices and strong demand.

 

In December 2011, a total of 1,581 single-family homes were sold in Austin, which is 11 percent more than December 2010. During the same time period, the median price for Austin homes was $187,940, which is one percent less than the same month of the prior year.

 

Leonard Guerrero, 2012 Chairman of the Austin Board of REALTORS®, commented, “December marked the seventh straight month in which home sales volume has outpaced the prior year and the inventory of available homes decreased.”

 

Austin homes spent an average of 89 days on the market in December 2011, nine days less than the same month of the prior year. The Austin real estate market also featured 12 percent fewer new listings, 19 percent fewer active listings and 12 percent more pending sales than December 2010.

 

In December 2011, the inventory of Austin-area homes decreased to 4.1 months, which is 1.4 months less than December 2010 and the lowest figure reported since the organization began tracking the statistic in January 2009.

Christine -

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