Austin home sales up 10% in January!

According to the Multiple Listing Service (MLS) report released 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.

The 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.

Increased demand and decreased supply is a strong indicator of property values on the rise!

Christine -

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