Latest Data Shows Growth in Austin Real Estate Market

Category: Real Estate

Within the Austin, Texas real estate marketplace, the latest data shows that homebuyers can achieve a significant return for their investment. Our team of experienced real estate specialists at Austin Realty has spent much of their time analyzing the local market and reviewing the data available through industry sources. Our data shows the thriving conditions within the market and within this post, we’ll examine how homebuyers can achieve strong returns through an investment in townhomes and condominiums throughout Austin. Year-on-Year Data Shows Growth in Number of Properties Sold While other local regions continue to suffer slowdowns within their housing sales figures, the Austin real estate marketplace is thriving. The latest data from July 2015 shows that the number of homes sold in the region has increased from the 2014 figures. In July 2015, there were 317 condominiums and townhomes sold in Austin, which is an increase from just 314 in July of 2014. While the growth in the marketplace is seemingly quite small, it is indicative of the upward momentum across Austin and the Austin real estate space. Median Price of Condominiums Shows Value in Austin Properties The latest data from the Austin condo market shows that values of condominiums and townhouses continue to rise significantly in 2015. In July of 2015, the average price of a condo in Austin was $202,365 compared with $224,850 in July 2014. This is an increase of $22,485 in just 12 months! For those that are considering long-term ownership of real estate in Austin, it’s a figure that shows the true potential within the marketplace and the opportunity for lucrative returns. Data Shows Properties Spending Short Time on the Austin Market For homebuyers considering a property in Austin for their next purchase, it’s important to analyze the amount of time the average condominium spent on the market in recent months. While this figure has grown in 2015, it’s still a short timeframe compared with other local Texas real estate markets. The data from 2015 shows that properties spent at an average of 42 days on the market before purchase in July 2015 compared with 37 days in July 2014. By understanding the latest data at their disposal, property buyers in Austin can make more prudent decisions on their purchase needs. Visit our website at www.austinhomesforsale.com to check homes for sale in Austin or call our experts at (512) 887-4849 to ensure you make the right choice for your long-term future!