Round Rock Real Estate Update – May 2012. Submitted by Lora Tucker Kaasch of Good Life Team Real Estate Brokerage.
This report uses Round Rock home sales data based on transactions that closed in May, 2012, and compares it to closings that took place during the same period last year. Typically, 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 slightly.
The number of new listings in May is up 10.2% from the same period last year, however, demand is outpacing supply, and home inventory continues to fall. In fact, inventory is down over 31% from May, 2011.
The number of closed sales is up to 236 for May, 2012, compared to 221 for May, 2011, which represents a 6.8% increase.
A historically-low interest rate atmosphere, coupled with increased buyer confidence, along with powerfully low unemployment are creating a perfect opportunity of sorts – inspiring many buyers, both local and relocated, to purchase a home in Round Rock.
Prices are also on the up-tick. The median sales price for Round Rock homes jumped from $183,000 in May, 2011, to $203,214 in May, 2012, representing an 11.0% increase.
With all these increases, are sellers getting closer to their asking price? In a word, yes. Sellers are receiving 96.4% of their asking price, up 2.4% from the same period last year. Days on market until sale are also paring down – from 76 in May, 2012, to 51 in May, 2012, a whopping 32.9% decrease.
As the summer months heat up, it appears that our housing market may be mirroring the mercury. If you have questions about Round Rock’s Real Estate market, or about real estate in general, I am ready to provide you with unparalleled expertise and seasoned insight.
When you are ready to move your home or office we would love to help! Get your free online quote today!
Comments Off on Round Rock Real Estate Update – May 2012