According a study done by ZipRealty, a California-based online real estate brokerage and research company, they show that there is no better Real Estate Market than that of Austin, Texas. Currently, homes in Austin are selling at a faster clip than anywhere else in the country. This information is based on conditions for the market as of June 30th, 2014.
Using numbers that they gathered from the Multiple Listing Service (MLS), ZipRealty found that nearly half of every Austin homes on the market have been selling within 10 days, and in some cases a fewer amounts of days was necessary to sell a home in Austin. This number represents the median days of market.
In a recent report from the Austin Board of Realtors (ABoR), they noted that Austin single family homes were selling in 39 days on average.
Typically the difference between the two statistics would be due to the type, area, or price of the sale in question. Typically homes at for sale at the higher end of the scale tend to take longer to sell. While homes that are closer to the median price tend to be selling at a quicker pace.
The median time on the market for other Texas Real Estate Markets include Dallas, which has a median sale time of 15 days. Houston chimes in on the list at 17 days on market.
With a median home value that is up 14 percent year-over-year up to $266,000, Austin is the second best city. Sacramento, CA had the largest year-over-year median home value increase, of 15 percent, up to $267,000. Houston checked in at 12 percent increase year-over-year to $215,000.