Austin-area home sales outpace prior year for seventh straight month in December; 2011 ends with increased sales volume, stable prices and strong demand
December 2011 Statistics
Single-family home sales in December 2011 outpaced the same month of the prior year for the seventh straight month, and year-end figures show momentum in Austin real estate heading into 2012.
December marked the seventh straight month in which home sales volume has outpaced the prior year and the inventory of available homes decreased.
Austin homes spent an AVERAGE of 89 days on the market in December 2011, nine days less than the same month of the prior year. The Austin real estate market also featured 12 percent fewer new listings, 19 percent fewer active listings and 12 percent more pending sales than December 2010.
In December 2011, the inventory of Austin-area homes decreased to 4.1 months, which is 1.4 months less than December 2010 and the lowest figure reported since the organization began tracking the statistic in January 2009.
With stable prices, stronger sales volume and more pending sales this month compared to December 2010, we’re encouraged to see the market showing strong demand leading into January.