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MARCH Market stats show big improvements!

So far 2012 is off to a great start in Austin, TX! The market in many areas of the city have less than a 5.5 month supply with many properties receiving multiple offers! PRICE is still buyers number one factor when deciding on a home. Although some areas of the city like downtown, central and South are seeing prices rise significantly!
Today homes are selling about 30 days faster too! What’s the cause you might be asking….well I think it has to do with a couple of things.
1. Pent up demand, many people put off moving due to a fear of the economy. With things improving more and more buyers are re-entering the market.
2. Still historically low interest rates. Today you can still finance a home under 4.5% in most cases.
3. Renal rates are jumping! Austin now has an average rental rate over 1.00 per square foot and an occupancy rate of 97%!
4. JOBS, JOBS, JOBS….people are finding work here in Austin and are relocating here in droves, an average of 55 per day, or 50,000 plus a year!
All those things combined and you have a mini buying frenzy going on, we’ll see how long it lasts! If you’re thinking about buying or selling, NOW is the time to get it while it’s hot!

About Gregg Klar (390 Articles)
Austin creates an oasis of desirable communities that are touched by the beauty of it's presence. I'm one resident who considers myself fortunate to be a part of the Austin lifestyle. Combining a passion for my work with love for my community, I've earned my place among Austin's leading real estate professionals. I bring to every transaction a personal touch, innovative marketing techniques and in-depth knowledge of today's complex market to ensure your home sale or purchase is a success from start to finish. Put my team of experts to work for you today

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