For the fourth quarter of 2014 unit sales were up slightly over the same period in 2013 while prices increased by 10% continuing a return to levels experienced in 2013. The year on year price increases in Q3 and Q4 are due to the lack of a decline in prices that we normally experience during the later part of the year. During the same period the number of homes for sale remained about the same compared to 2013 while months of inventory increased by about 8% to 2.4.
The higher number of homes on the market and higher inventories would normally suggest a return to more sustainable price increases, but that wasn’t the case for this quarter, and given the mixed signals it’s unclear what to expect for 2015.
Of course individual neighborhoods may vary significantly from these city wide trends, so if you’re interested in seeing this type of information for your area give us a call or send an email. We’re never too busy to answer your Austin real estate questions.