The first look at the monthly market stats
Before all of the title companies and ABOR release their stats every month we as realtors have to run statistics manually to get the first look of how the market is performing. So here are the early release numbers from the MLS for the month of October
The Austin market continues to shock us, as does the year 2020 in general.
The most impressive number is the +27.45% increase in Avg Sold Price in the city of Austin. It’s worth noting that Median Sold Price is usually less volatile with a +14.89% increase which is still a historic increase. The city of Austin total sales increase by +12.6% and days on market drop to only 7 days to sell.
Typically we see a big slow down, especially during election years from October through January can be a 10% to 15% drop off in Sales volume and overall activity, this is mostly due to the upcoming holidays, and the cyclical nature of the school calendar. BUT NOT THIS YEAR
The greater Austin metro area saw huge gains in unit sales at +19.74% to 3773 total sales. Median Sold Price increased by +12.52% to $359,950. Homes are selling incredibly quickly and Median Days on Market dropped from 28 days to 9.
Next week we'll have the full set of data for the month of October. Which will be really interesting to see pending data, which will really show us if we are beginning to see any sort of seasonal slow down, like we typically do.
