Austin Market Stats: 2015 Year end and January 2016

Feb. 11. 2016

Hello again!

Here’s a little market update for the past few months and how 2016 just may shape up!

First let’s start with December…

December 2015 Statistics

• 2,390 – Single-family homes sold, five percent more than December 2014.
• $270,000 – Median price for single-family homes, 10 percent more than December 2014.
• $348,904 – Average price for single-family homes, 13 percent more than December 2014.
• 57 – Average number of days single-family homes spent on the market, one day more than December 2014.
• 1,646 – New single-family home listings on the market, six percent more than December 2014.
• 5,214 – Active single-family home listings on the market, three percent more than December 2014.
• 1,601 – Pending sales for single-family homes, one percent less than December 2014.
• 2.2 – Months of inventory* of single-family homes, unchanged compared to December 2014.
• $833,880,560 – Total dollar volume of single-family properties sold, 19 percent more than December 2014.

Overall, 2015 shaped up nicely–here is the recap:

2015 Year-End Totals

• 29,068 – Single-family homes sold, five percent more than 2014.
• $263,900 – Median price for single-family homes, nine percent more than 2014.
• $333,558 – Average price for single-family homes, eight percent more than 2014.
• 49 – Average number of days that single-family homes spent on the market, two days more than 2014.
• 36,810 – New single-family home listings on the market, four percent more than 2014.
• 6,044 – Active single-family home listings on the market, five percent more than 2014.
• 29,839 – Pending sales for single-family homes, five percent more than 2014.
• $9,695,852,178 – Total dollar volume of single-family properties sold, 13 percent more than 2014.

(Source is from Austin Board of Realtors)

Now, as for January… Personally that doesn’t seem to be the case with me and my clients! Most of my buyers have been in multiple offer situations and my sellers who thought they’d be on the market for a few weeks received four in one weekend all over asking! So no complaints there, but will the Austin housing prices ever plateau or will this “bubble burst”?

There’s a great article here (backed with stats) about the Austin Market: Is Austin in a Housing Bubble?

Onto some market stats for the greater Austin area (this includes a bit of Hays, Travis, Williamson Counties)

In case this is graph is a bit blurry:

-5.9-months supply of inventory

-$318,633-Average sales price

-$257,500 Median Sales price

-26 is median days on market

-$180 Average price per square foot

 

I am excited (and a bit scared) to see just how busy this Spring and Summer will be in this Austin market.

Thanks for reading as always and if you have any additional questions on specific areas–please don’t hesitate to reach out!