September Market Stats First Look: Avg Sold Price Jumps 17%
The real estate market has continued to surprise us and we have decided to begin sending “first look” market statistics out at the beginning of every month. These are preliminary numbers that we run in house. These numbers won’t be as redundant as those that Independence sends in a couple of weeks, but they will be very good (though there is some small higher % chance that a mistake is made on our end.) We hope you find this valuable!
All data is pulled from ACTRIS MLS data. You can download the statistical reports in a zipped file of PDFs here.
We’ve looked at numbers for the greater Austin metro area, along with numbers specifically for Austin addresses. Here is what we found for the month:
These are historic numbers, any which way you look at them. By the most conservative estimates, the broader market appreciated at 8.57% and Austin addresses appreciated at 10.69% YOY for September. By the most optimistic numbers, the metro area appreciated at 17.05% and the city of Austin appreciated at 17.55%
Units sold were up considerably with the metro area seeing a 19.35% increase and while the city of Austin saw a 14.52% jump. This makes perfect sense since builders are taking advantage of the land available around Austin to continue to grow those areas. Properties are selling extremely quickly with median DOM down to 11 and 8 days.
We’ll be back in touch with you when we have the full set of data for the month of September. This first look at September shows that 2020 will continue to be a historic year.