Here are the January/2020 MLS single-family statistics for Austin, TX:
Our streak of all-green categories for a month of Austin home sales extended to the last five in a row. What an incredible testament to the strength of our Austin economy and real estate market that we are performing this well. This is also the: 6th month in a row of a double-digit drop in the number of listing we have (when compared to the same month of the previous year); our 7th month in a row of double-digit inventory drops; our 3rd of the last 4 months of double-digit drop in days on market; and our 7th row in a month of double-digit increase in our Activity Index. The Activity Index is a formula of the number of pending sales divided by the number of listings + pending sales. It gives a good numerical representation of just how hot our market is at any given time. Even though 100% is theoretically possible (if all listings went pending), a very solid number for a red hot market is 50%+, so our 38% is quite good.
Below is a graph of three real estate categories: Listings, Pendings and Sales since 2009. As you can see, 2014 to 2018 produced steady home sales increases each year, but 2019 shot up again (mostly the last half of last year). 2009 and 2010 were Austin’s worst 2 years of the Great Recession era and we statistically moved into a seller’s market (ie-less than 6 months of inventory) in Mar/2011. So, beginning next month, we will be starting our 10th year of a sellers market for home sales in Austin, TX!
