2015 1st Quarter Market Update

Austin TX

April In ATX

Good afternoon and happy belated Easter!

The week immediately following Easter Sunday always represents the beginning of the busy season for Realtors. As the inventory starts its annual climb and the sales really kick into overdrive, let’s take a brief moment and look back at the first quarter of 2015.

Today, our local board has roughly 5,675 active single family listings (stand-alone houses, condos & townhouses). That’s an increase of just under 7% compared to this time last year. The first quarter sales numbers also appear to be increasing in every major category. 6,019 units closed in the first quarter, a 3% increase for the same period last year. The average sold price jumped to $317,565 and the average sold price per foot was approximately $171.67; increases of 10% and 11% respectively.

My takeaway is that though the number of listings continues to rise, the sales are keeping up with the listings; and with estimates suggesting a net of 157 new residents are moving here each day, the demand is certainly present which continues to push prices higher.  Therefore a market slow down seems unlikely.  As we are currently moving into the home sales season, our market is primed for a robust summer and a continuation of the growth we’ve seen the past few years!

Still, opportunity is everywhere! If you are considering a move or real estate investment, or know of someone who is, let’s connect and build a plan together!

All my best,