Austin, Texas (PRWEB) February 18, 2013
Austin real estate brokerage Regent Property Group found that sales in the Austin real estate market in 2013 are proving to be a continuation of the strong upward trends found in 2012. Notably, Austin experienced a 21.25% increase in homes sold, a 14.54% increase in median sold prices, and a 29.33% decrease in days on the market when comparing January 2013 to January 2012.
We have every indication that Austins real estate market is tightening and will continue to do so in the near future, said Brian Talley, founder of Regent Property Group. Austin is experiencing heavy demand for existing homes, offers one of the best job markets in the nation, and is home to an excellent quality of life. All of the integral pieces are in place for a strong 2013.
Between January 1, 2013 and February 11, 2013, there were 625 single-family homes sold within the Austin city limits with a median sold price of $ 127.79 per square foot ($ 259,000.) During the same time period in 2012, there were 610 homes sold with a median sold price of $ 116.70 per square foot ($ 230,000.) Average days on the market for those dates in 2013 equaled 53, versus 78 in 2012. This represents a 2.46% increase in the number of homes sold, a 9.50% increase in the median sold price per square foot, a 12.61% increase in sold prices, and a 32.05% decrease in days on the market.
Active homes within Austin demonstrate there is more optimism within the real estate market: with 1,425 single-family homes for sale as of 2/11/13, the median list price is $ 154.81 per square foot, for a median list price of $ 415,802. Data also shows a 35% decrease in homes for sale, compared to the 2,209 single-family homes for sale on 2/09/12.
Regent Property Group was founded by Brian Talley. He is ranked among the top 1% ofselling agents out of the 5,313 Austin Board ofREALTORS
