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Today we’re excited to share our first quarter market update for Austin real estate. We’ve seen some encouraging signs lately as we enter the busy season, and we’re going to go through exactly what those are right now.
In the first quarter of 2016, we had a very active market. We saw about a 7% increase in our median sales price, bringing our median sales price up to $267,500 for the entire Austin market.
We’ve seen a very active market as of late. We had about 9,000 listings come on the market during the first quarter, with 60% of them selling. Our inventory was also up by about 25% from the first quarter of 2015.
Even with all of the increasing numbers in the market, our average days on market has stayed more or less the same. Homes are selling in an average of about 55 days, which is a pretty quick turnaround.
One more thing we should mention is that we observed a 98.9% list-to-sale ratio for homes in the Austin market. This means that people are really competing for homes, and sellers are getting their way most of the time.
What does all of this mean? Well, we have a very active seller’s market, people are still looking to move to Austin, and if you’ve been thinking of selling, it’s a great time to put your home on the market. If you have any questions for us about your specific situations, just give us a call or send us an email. We’d be happy to sit down and discuss things with you!
