The Carvajal Group Blog

Austin Real Estate Market on the Rise

October 31st, 2011

With October comes cooler weather and many tourists to Austin, and an increasing real estate market. For anyone who is interested in buying, renting, or selling a home in Austin now is the time to do so.

Last month the Austin real estate market saw an 18% increase in the number of homes sold in the Austin area. Final selling prices were also up 2% which is very good news for those selling their homes. Buyers will be pleased to know that the interest rates are remaining at a low average of 3.94% for a conventional loan.

Although homes in the last year have been on the market for a slightly longer time frame they have seen an increase of 6.16% selling rate. In mid-October alone, 650 homes had been sold in the Austin area, which is a definite increase from this time last year.

Now is the time to buy or sell in the Austin area, because with the interest rates so low and the Austin real estate market being on top there is no reason to event bother renting.

For more information onĀ buying properties in Austin, contact us today at (512) 419-7770.

Tags: Austin homes · Austin Real Estate