Dallas is not isolated to rising home prices and supply and demand issues. You can include Austin and surrounding cities and counties. Austin area home prices according to the Austin Board of REALTORS® has hit an all-time high in April of 2014 and is keeping pace with last year numbers.
Bill Evans, President of the Austin Board of REALTORS®, said, “Austin-area home prices are rising as the strong demand of the market continues. We continue to see multiple offers on listings, often above listing price. This increasing valuation of Austin-area homes could encourage more listings to enter the market, indicating a strong summer selling season ahead.”³
April 2014 Real Estate Stats for Austin
- 2,479 – single-family homes sold, one percent more than April 2013.
- $239,900 – Median price for single-family homes, six percent more than April 2013.
- $308,752 – Average price for single-family homes, statistically unchanged since April 2013.
- 45 – Average number of days single-family homes spent on the market, five days fewer than April 2013.
- 3,481 – New single-family home listings on the market, two percent fewer than April 2013.
- 5,305 – Active single-family home listings on the market, three percent fewer than April 2013.
- 2,805 – Pending sales for single-family homes, six percent fewer than April 2013.
- 2.3 – Months of inventory* of single-family homes, 0.4 months less than April 2013.
- $765,396,208 – Total dollar volume of single-family properties sold, one percent more than April 2013.
San Marcos fastest-growing U.S. city
New and big numbers validate that suburbs around Austin are also amongst the fastest-growing cities and counties in the nation.
According to data released this Wednesday by the U.S. Census Bureau, San Marcos which is about a 30 minute drive south of Austin along Interstate 35 is the fastest-growing city, by percentage growth, with a population of more than 50,000 in the entire United States while Hays County is the fastest-growing county in the region.
This was the second year in a row San Marcos topped the Census’ list for percentage growth. Two other cities in the region are also in the top 10 fastest-growing in the country. Cedar Park, just north of Austin is No. 4, with a 5.6 percent population increase, while Georgetown is ranked No. 7, with a 4.5 percent population increase.
Resources
¹ Austin Real Estate Report, Austin Home Search
² San Marcos fastest-growing U.S. city, Hays beats Williamson in growth