Is Austin, TX experiencing a real estate bubble?

The Austin Board of Realtors released the Austin-area MLS numbers this week for October 2014.  As expected, another record-breaking month occurred.  Here are a couple of highlights along with the familiar infographic:
Photo courtesy of abor.com
  • Median price of single-family home:  $240,000
  • Average price of single-family home:  $311,028
  • Homes spent 2 additional days on the market (on average) compared to the same month last year (50 days).
  • Housing inventory increased to 2.7 months- a 0.2 month increase over last October.
It’s been fascinating to see signs of cooling/stabilizing while continuing to see month after month of record prices.  I’ve heard a lot of people talking about Austin experiencing a “real estate bubble”.  In fact, one guy in particular sent me a question about real estate bubbles via email that I did my best to respond to in a short video.  Check out the video response here if it doesn’t show up below.

Barrett Raven
barrettraven@gmail.com
512.970.2648

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