Monday, February 21, 2011

Austin home sales up 14% in Jan.

Austin home sales up 14% in Jan.


Austin Business Journal
Date: Monday, February 21, 2011, 11:34am CST

A total 975 homes sold in the Austin area last month, or about 14 percent
more than in than January 2010, according to Multiple Listing Service data
released on Monday.

The Austin Board of Realtors said single family homes also sold for a higher
average price - about $190,000, up 6 percent from last year. Properties
spent an average 93 days on the market, 11 percent longer than January 2010.

At the same time, new listings were down 14 percent in January this year
compared with 2010. Active listings were down 5 percent. "The latest figures show that we are seeing the economic recovery continue
in Austin," Judith Bundschuh, chairwoman of the Austin Board of Realtors
trade group.

The shift is a welcomed change for Austin, where single-family
home sales were down 5 percent 2010.

"Demand and prices are strong, but they should expect to be patient to
achieve full value. Buyers should know that fewer listings combined with
increased demand could mean they will encounter more competition for
properties."

The report is in line with national trends. The National
Association of Realtors reported last month its
Pending Home Sales Index, which measures signed purchase contracts but not
closed sales, rose 2 percent nationwide. In the South, the region that
includes Texas, pending home sales jumped 11.5 percent in December.

Keeping you informed, ready to take care of all your real estate needs and
wishing you the best, Anne

ANNE JOHNSON-CHEVERERE

Realtor(r)

512-917-5260 Cell 512-328-5151 Office 512-328-0404 Fax

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RE/MAX Austin Skyline 4611 Bee Caves Rd., Suite 200 Austin, Texas 78746 annejohnson@austin.rr.com anne@HookemHomes.com Search All Listings

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