The Austin real estate market stayed bullish in 2012 with home sales hitting their highest level in five years and experts predicting more growth in 2013.
A report released by the Austin Board of Realtors describes 2012 as a year with stable prices, strong demand and with a high volume of sales. Last December marked the highest level of sales since 2006 in Austin and the 19thstraight month of sales increases in Central Texas.
“This is the strongest year for the Austin housing market we’ve seen since the recession." said Cathy Coneway, chair of the Austin Board of Realtors. “With accelerating prices, stronger sales volume and more pending sales this month compared to December 2011, we’re encouraged that this steady momentum will continue into January 2013.”
22,946 single-family homes were sold through 2012, showing a 19% bump compared to 2011. In addition to that 3% increase in listings, homes spent an average of 69 days on the market, 15 days less then 2011.
Each month of 2012 brought double-digit increases in home sales and double-digit decreases in active listings, Coneway said.
