Property Condition and Listings : When talking about houses and properties in Austin, TX, it's clear that many are up for sale, and many are waiting for a buyer to say 'yes'. Let's dive into the details.
Active Listings: Resale Homes are the big players here, making up 58.7% of the market with an average price of $813,204. New Constructions follow next, making up 18.6%. The average cost for these newer homes? Around $800,416. Surprisingly, Under Construction homes are a bit cheaper, at $580,766 on average, even though they account for 12.3% of listings.
Looking at Pending Listings, or homes that are almost sold: Resale Homes again take the lead at 47.2%. But, the homes that are Under Construction are catching up fast. They represent 27.5% of this category. When we group the properties a bit: All New Constructions represent 32.3% of active listings and 46.7% of pending listings. All Resale, on the other hand, holds a significant 67.7% of active listings and 53.3% of the pending ones.
Special Listing Conditions : Sometimes, houses come with special tags because of different reasons. Let's see what these reasons are and how they shape the market.
Active Listings: Estate sales are the most common special condition. These properties, sold because someone passed away, make up 1.87% of this market. On average, they're priced at $773,786. Real Estate Owned properties, or homes that banks took back because the owner couldn’t pay, represent 0.632% of active listings, with an average price of $716,295.
In Pending Listings: Real Estate Owned properties are 0.710% of this group. Estate is the highest one, representing 2.252%. One interesting listing to note: An Auction property is pending with an impressive price of $11,750,000.
Activity Index : This number shows how active each property type is. The higher the number, the hotter the demand. Under Construction homes are super active, with an index of 42.60%. New Constructions are also popular, sitting at 23.81%. In the special conditions, Short Sales and Pre-Foreclosure homes show a lot of activity, at 38.46% and 50.00% respectively.
Austin's real estate market has a lot happening. From new constructions to resale homes, different types of properties have their own place in the market. While this data gives us a snapshot of today's market, always remember that numbers and percentages can change. So, if you're looking to buy or sell, please let us know so we can help.

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