Austin-Area Home Sales up 26 Percent in February, Median Price up Seven Percent

Looking for an Austin home for sale? Join the club. According to the most recent Multiple Listing Service (MLS) report released by the Austin Board of REALTORS® (ABoR), the volume of February home sales in Austin significantly outpaced 2012, and the price for Austin-area homes continues to rise.

According to the report, the median price for Austin-area homes increased to $208,500: seven percent more than the same month in 2012. Additionally, the market featured 2.6 months of inventory in February 2013, which is 1.6 months less than February 2012.

Austin-area homes, from Davenport to Senna Hills, featured one percent more new listings, 25 percent fewer active listings and 15 percent more pending sales in February 2013 compared to the prior year. On average, homes spent 71 days on the market, which is a decrease of 15 days from one year prior.

Cathy Coneway, 2013 Chairman of the Austin Board of REALTORS®, explained, “Strong demand for Austin homes continues, but the number of listings on the market remains consistent. This has led to steady increases in price while keeping housing inventory at record lows.”

1,626 single-family homes were sold in the Austin area in February 2013. That’s 26 percent more than last February, demonstrating homes from River Place to Tarrytown sold in higher numbers. The total dollar volume of single-family properties sold was $430,324,152, or 32 percent higher than the same month last year.

Looking for a luxury home in Barton Creek West? REALTOR® Brian Talley is ranked among the top 1% of selling agents among Austin Board of REALTORS® members. Founder of Regent Property Group, Talley is a personal top producer, closing multi-million dollars of transactions for luxury homes located all over Austin. Contact him today at 512.215.0565.