The Numbers Indicate It’s A Great Time To Buy North Austin Real Estate
Those of you who have been following our posts know we have been saying for a while that this is a great market to buy real estate in Austin. Inventory in many of the prime North Austin MLS areas has now risen above the magic 6 months of supply. In our monthly North Austin Market reports we have been tracking absorption rates for some of the hottest North Austin subdivisions and as we reported this month some have remained below the “magic number.” However, when we zoom out and look at the areas as a whole, as illustrated in the chart below, some interesting numbers pop out. (As always, click the chart for a high resolution view).
The first area that grabs my attention is area NE, which is now running at 7.2 months of inventory, and the price range of $150k to $199k (which takes in most of the popular Pioneer Crossing subdivision) at 7.79 months, which is clearly a buyers market. In MLS area N, the $200k to $299k price range which encompases Scofield Farms, is at 7.45 months.
These numbers back up my assertion that this is a great time to buy. To schedule a tour of houses or neighborhoods, call or email Micheala today at 512.744.4155 or Michaela@LivingNorthAustin.com
Written by Jim MorelliREMAX Capital City | 13018 Research Blvd. | Austin TX 78750
Direct 512.918.1562 | Fax 512.331.7480
http://www.LivingNorthAustin.com
jim@livingnorthaustin.com
« North Austin Open House | Home | Capital Metro Announces New Bus Route for North Austin »
Comments
Trackbacks