How is Austin Real Estate Starting Off in 2014? YTD Stats

Many of us are wondering if 2014 is going to be as crazy of a year for Austin Real Estate as 2013 was...well, it is hard to say at this point, but early indications are very positive. Job growth remains strong. New buzz about Austin continues in the press. Our major industries are doing well and growing (especially high tech--but not just high tech). New construction is doing well (in fact, I work with a lot of clients who are building homes in new construction and most builders are doing so well that they are having to "slow down" the growth to keep up).

If we look at the raw numbers and compare them to last years record numbers--2014 is off to a fast start! It is really too early to draw a lot of conclusions from these numbers, but it is very interesting to look at the early momentum of 2014!

Here is what the Year to Date numbers look like: 

• Homes* sold/closed during the first 15 days of 2013: 576
• Homes sold/closed during the first 15 days of 2014: 604
• Increase Year over Year: 5% increase in homes sold
• Median Price per square foot, Jan 2013: $106 psf
• Median Price per square foot, Jan 2014: $116 psf
• Increase in Median price per square foot:  ~9% increase
• Inventory remains low at close to 2.6 months

While I would not go out and bet the farm on these numbers, I think this can be held in light of the history of the past 18 months and give us a good directional compass for where 2014 is probably heading...

If you are buying or selling a home in the Greater Austin Area, you should know what I know. Give me a call today!
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