N Central Austin Real Estate ~ 2012 Mid Year in Review

By
Real Estate Agent with Juice Homes, LLC Lic# 491811

MLS Area 2 mainly encompasses the 78757 zip code.  Neighborhoods West of MOPAC, South of 183, East of I-35 and North of 2222.  With 2011 sales data complete, the Austin Board of Realtors published the following sales data from our local MLS.  I fall back to Economics 101, and basic supply / demand.  Most of 2011 we operated at a much lower level of inventory, and towards year’s end saw properties selling faster.  Those quicker sales had been priced appropriately, stagedby a professional and their agent did more than simply place a sign in the yard.

YTD as of August 1st (from Austin Board of Realtors)

 

 

2011

2012

+/-

New Listings

327

362

+10.7%

Closed Sales

225

266

+18.2%

Median Sales Price

$232,500

$239,150

+2.9%

Average Sales Price

$235,824

$251.68

+6.7%

% of Original List Price Received

93.10%

95.40%

+2.5%

Days on Market Until Sale

72

55

-24.60%

 

If you've been paying attention to the local real estate news, or decided to jump back into the market as a buyer, most sense low inventory levels.  It's not your imagination, the Austin Board of Realtors has been reporing neighborhood inventory levels about 20% fewer homes on the market when compared to last year.  Each neighborhood will differ, but in areas like Midtown and Central Austin, the balance shift towards sellers is noticeable.  While "New Listings" above shows more homes hitting in 2012, the closed sales have increased at a much fast rate.


The increased activity is good news for sellers, but you still need to pay attention to staging, document improvements and accurate pricing.  While buyers are aggressively looking, they are also making more informed decisions.  It makes a difference when your agent understands what is happening in your neighborhood.  They should know why certain homes are selling for more than others.  That is especially true in older neighborhoods where each property is unique in many aspects!

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Rainmaker
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Dorie Dillard
Coldwell Banker United Realtors - Austin, TX
Realtor-Canyon Creek- NW, Austin TX Homes For Sale

Hi John,

Awesome report! The increased activity is good for sellers but you are right they need to pay attention to staging, document improvements and accurate pricing if they are going to be the sought after homes from the buyers! Sellers should be calling John Dunham of Juice Homes if they want to assure expert advice on marketing their homes.

Aug 01, 2012 06:25 PM #1
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John Dunham

N Central Austin
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