‘Round Our Town – Round Rock Real Estate Update – August 2012
It’s that time again! Time to get up-to-speed on what real estate is doing ‘round our beautiful Round Rock neighborhoods.
This report uses Round Rock home sales data* based on transactions that closed in August, 2012, and compares it to closings that took place during the same period last year (unless otherwise indicated). Traditionally, closings occur four to six weeks after a contract is executed. For that reason, the sales activity you see here trails the actual market conditions just slightly.
The big story from the recent stats? Even though the seasonality pattern of real estate sales kicked in a bit, the sales figures were still indicative of a growing locale.
In year-over-year comparisons, single-family detached home inventory was down 15.9%, from 825 in August, 2011, to 694 in August this year. The days that homes spent on the market were also significantly shorter than the same period last year, from 78 to only 49 days. Closed sales were also up
5.1% from August, 2011.
In this ‘Round Our Town, I also want to touch on a comparison between July and August this year. The figures were indicative of a normal “cycle” in the real estate world: home sales settle a bit when schools go back into session. August home sales fell slightly, from 274 closed sales in July, to 266 the following month, a 3 percent decrease. Interestingly enough, however, inventory of single family detached homes was lower in August than in July, 694 versus 707, respectively. Additionally, average sales price nudged from $215,000 in July to $216,250 in August. The moral of the story? Despite fewer closed sales, the lower inventory, along with the fact that sellers are receiving 96.3 percent of their asking prices, our real estate market statistics were indicative of positive, healthy growth.
Now, how ‘bout that? Some good news for your day. 🙂
If you’re curious about what your home may be worth, I am happy to provide you with a free, no-obligation market analysis of your home – I’m here for you. You have my word on that.
*Information from the “Local Market Update – July 2012” by the Austin Board of Realtors®
**Does not account for seller’s concessions.
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