Austin, TX March 2010 Sales Up 24%; Average Prices Up 2%
Posted by Tom Thornton on Monday, April 19th, 2010 at 10:09am.Things are getting interesting in the Austin Real Estate market this spring. As the expiry of the $8,000 first-time buyer credit and the $6,500 move up credit looms, many buyers moved quickly to take advantage of low interest rates and the government incentives.
On the flip side, quite a few sellers are taking advantage of the improved market conditions to flip investment properties or to "move up and lock in" with an attractive interest rate while their purchasing power is high.
Some key numbers:
- 24% Increase in Year On Year sales for March
- 47% increase in homes under contractÂ
- 2% increase in average sale price
- Days on market down from 12 weeks to 10
Overall, this spring has proven to be a great time to both buy and sell homes, which is keeping my Realty Austin colleagues and I quite busy in recent days.
If you have questions about the value of your home or wish to take advantage of the tax credit, please contact me on 512.636.0672.
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