How’s the market? That’s the question I am most asked about our Austin real estate market. So, let’s talk about what’s going on in the Austin real estate market.
Just this morning fresh numbers have just been released which helps me keep my pulse on the market. I research the market every day because it helps me better serve my clients.
Being top of my game, market-knowledge wise, gives my clients an advantage over those working with an average REALTOR®.
Austin Title is one of my research sources and just this morning they sent me the numbers for January 2018.
There are several key indicators that I always want to focus on:
– Number of total sales compared to last year
– Average sales price
– Average days on market
– Current Months of Inventory
– Total number of Active Listings
So, how’s the Austin real estate market? I’m glad you asked.
#1 – Sales are up 7.59% for a total of 2283 sales in January 2018 compared to January 2017. That is a positive indicator.
#2 – The Average sales prices is up 3.82% to $361,600 from January 2017. Another positive indicator.
#3 – Average Days on Market is up 5.67 days to 78.4 days from January 2017. That is a negative indicator. This number reflects how long it takes to attract a sales contract once the listing has gone Active in the MLS.
#4 – Current Months of Inventory is up to 2.56 months. This is how long it would take to sell all listings at the current sales pace. A rising number is a negative indicator.
#5- Total Number of Active Listings stands at the highest number in 6 years at 7, 519. A rising number is a negative indicator.
There you have it. Two positive indicators, three negative indicators. How does this affect you if you are Selling or Buying? Give me a call and I’ll be happy to discuss it with you personally.
You can reach me at 512-516-4666.
