The Round Rock Real Estate Update July 2012 is furnished to us by Lora Tucker Kaasch, Realtor® – The GoodLife Team
It’s that time again! Time to get up-to-speed on what real estate is doing ‘round town. Round Rock continues to out-pace, out-perform and out-sell most all other national markets. It’s more than just us that have fallen in love with our beautiful neighborhoods!
This report uses Round Rock home sales data* based on transactions that closed in July, 2012, and compares it to closings that took place during the same period last year. 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.
If asked to narrow the market activity to the most profound monthly statistic, it would be how fast homes are selling. Days on market for homes in our area have slimmed to 48 days. Start to finish – that’s incredibly fast! More perspective – that’s a 35.8% drop from 12 months ago! Homes are moving at near break-neck speed, and sellers are garnering 96.3% of their original asking prices.
The number of new listings in July has climbed to 316, an 18.4% jump from the same period last year. Even with more listings entering the market, demand continues to outpace supply, and detached single family home inventory figures are dropping. In fact, inventory is down over 20.8% from July, 2012, from 893 to 707 homes.
Home prices are nudging higher; the median sales price in Round Rock went from $214,250 in June, 2012, to $215,000 in July.
Interest rates remain at historical lows, and it appears that the current rate atmosphere will continue into the foreseeable future. If you have questions about the real estate market in our beautiful community or about homes in general, I am ready to provide you with unparalleled expertise and seasoned insight.
*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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