New numbers indicate hot Austin housing market

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by JADE MINGUS / KVUE News

Bio | Email | Follow: @JadeM_KVUE

kvue.com

Posted on February 20, 2013 at 6:41 PM

Updated Wednesday, Feb 20 at 7:01 PM

AUSTIN -- The Austin housing market is red hot according to new numbers released by the Austin Board of Realtors Wednesday.

Januaury home sales are up 33 percent from last year and realtors say there is no reason those numbers will slow down anytime soon.

In January 1,402 houses sold in the Austin region, which includes Round Rock and San Marcos.

That's the highest number of homes sold in the month of January in the past six years. The median price is up too. It rose 10 percent to $197,900.

The Austin Board of Realtors says this means 2013 could truly be a seller's market.

The fastest growth right now is concentrated in the central, downtown and northwest areas of Austin.

"A particular property might have two, three, even four separate offers on it, and it's up to the seller at that point to decide which offer is the one that best gives results for them," said Leondard Guerrero from the Austin Board of Realtors.

According to the new report, homes spent just 71 days on the market. That's two weeks less than just one year ago.

The board is warning that the housing supply is drying up in the Austin area. Right now Austin has the lowest amount of inventory in the past decade.

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