The housing market in Austin continues a strong uptick with home sales increasing almost 10 percent year-over-year. The median price is nearly five percent higher compared to the same period of last year. “Strong gains in both pending sales and active listings both in Austin and regionally indicate a strong summer selling season could be ahead,” said Austin Board of Realtors President.
For houses listed in ZIP code 78728 – an area of North Austin mostly encompassing Wells Branch – is ranking the most attractive area for buyers. Houses listed there in May sold within a week, and the price per square foot is up 18 percent. Another hot ZIP code is 78720, where Apple Inc. recently finished its expanded Austin regional headquarters; houses were sold within an average of 12 days.
Although the overall market is doing well, some areas are experiencing price drops and much longer selling periods. In 78620, the average selling price went down 21 percent from last year. Also, in ZIP code 78669, it took about 108 days to sell since the beginning of the year.
A List Partners identifies, predicts, and plans for these pricing trends with our well-diversified portfolio. Please contact us to discuss the market!
– Shen Bao, Accounting Intern
Original Article: http://www.bizjournals.com/austin/news/2016/06/21/austin-home-sales-zoom-and-we-zoom-in-on-the-data.html