Austin February Sales Stats

February 2006 Average and Median Sales Price

The Austin Real Estate market continues its steady march into “Seller’s Market” territory in many areas. Average sales price rose 15% from Feb 2005 to Feb 2006. We continue to encounter multiple offers frequently. There are still many homes that come on market priced a bit low given current activity. This is due to inexperienced agents not factoring in the rising market, and not properly measuring the Active/Pending ratios into the pricing equation. It all works out for the sellers though as those listings tend to attract multiple offers which drives the price up to market value. But it proves something we’ve always known – price your well prepared home at the lower cusp of the market comps and it will sell very fast for full price or better.

See the Feb Sales stats below…

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