October 2015 Austin Real Estate Market Report A comprehensive report on the Austin and Central Texas real estate market. Volume 10, Issue X
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Year to Date Sales – October 2015
Year-to-date sales in Austin are higher than in the prior seven years, showing increasing demand and an improving market.
1 25,000
20,000
15,000
10,000
5,000
0 2003
2004
2005
2006
2007
2008
2009
2010
2011
WEST AUSTIN PROPERTIES 3312 River Road ● Austin, TX 78703 Direct (512) 345‐1252 ● Email
[email protected]
2012
2013
2014
2015
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4
Homes Sold per Month – September 2015
The chart below follows the trends of numbers of homes sold during any given month. Last month there were 2,396 homes sold in Austin, Texas. More homes sold in September than in the six previous years during that month!
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3,500
3,000 2009
2,500
2010 2011
2,000
2012 2013
1,500
2014 2015
1,000
500
0 Jan.
Feb.
March
April
May
June
July
Aug.
Sept.
WEST AUSTIN PROPERTIES 3312 River Road ● Austin, TX 78703 Direct (512) 345‐1252 ● Email
[email protected]
Oct.
Nov.
Dec.
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5
Homes For Sale – October 2015
The chart below follows the trends of the number of homes for sale during any given month. At the beginning of
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October, there were 6,541 homes for sale in Austin, Texas. There are 6.27% more homes for sale than last year at this time.
12,000 11,000
10,000 2008 9,000
2009 2010
8,000
2011 2012
7,000
2013 6,000
2014 2015
5,000 4,000
WEST AUSTIN PROPERTIES 3312 River Road ● Austin, TX 78703 Direct (512) 345‐1252 ● Email
[email protected]
© Copyright 2015 All Rights Reserved.
6
Pending Sales per Month – October 2015 The chart below tracks the number of Pending Sales in the market. These are homes that are Under Contract that have yet to close. This month there are 3,439 homes Pending in Austin, Texas. This is the highest
4
number of October pendings in the last 7 years. Because of qualifying, mortgage and approval rates it is taking
longer to go from contract to close. 5,000 4,500 4,000 2008
3,500
2009
3,000
2010 2011
2,500
2012 2,000
2013 2014
1,500
2015 1,000 500 0 Jan.
Feb.
March
April
May
June
July
Aug.
Sept.
WEST AUSTIN PROPERTIES 3312 River Road ● Austin, TX 78703 Direct (512) 345‐1252 ● Email
[email protected]
Oct.
Nov.
Dec.
© Copyright 2015 All Rights Reserved.
7
Home Sales by Price BandSeptember 2015 Overall we are in an Extreme Seller’s Market with 2.70 months of inventory. On average, home prices are showing High Appreciation for the year. However, the Market is different based on demand and the number of homes for sale
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in each price range. Homes valued under $500,000 are in a Normal or Extreme Seller’s Market.
Price Range
# of Solds
$0-$100k
Active Listings
Months of Inventory
Sold % of List
Market
34
169
4.97
94.26% Normal Seller's market
$100-$200k
659
638
0.97
99.10% Extreme Sellers Market
$200-$300k
842
1576
1.87
98.47% Extreme Sellers Market
$300-$400k
388
1238
3.19
97.98% Normal Seller's market
$400k-$500k
189
888
4.70
97.74% Normal Seller's market
$500-$600k
82
525
6.40
96.82% Balanced Market
$600-$700k
85
328
3.86
97.71% Normal Seller's market
$700-$800k
34
211
6.21
97.25% Balanced Market
$800-$900k
36
170
4.72
96.76% Normal Seller's market
$900-$1M
15
134
8.93
96.44% Balanced Market
$1-$2M
42
407
9.69
95.37% Normal Buyer's Market
$2-$3M
6
125
20.83
95.04% Extreme Buyer's Market
105
105.00
$3M