Austin, Texas Real Estate Market Update and Statistics August 2015
published on August 21, 2015
All-Time High for Austin Home Sales
Austin-area home sales hit an all-time high in July 2015, increasing 12 percent year-over-year to 3,149 sales, according to a Multiple Listing Service report released by the Austin Board of REALTORS®.
Median price for single-family homes rose to $269,500, an increase of eight percent compared to July 2014. Average price increased six percent to $338,452. Inventory levels rose from 2.8 months in June 2015 to a three months’ supply, matching July 2014 and also reaching the highest level since that time.
“We’re in the midst of one of the most active summer selling seasons to-date, with more single-family home sales than ever before,” said ABOR President Barb Cooper. “Home prices remain high, but inventory levels have increased steadily throughout 2015, perhaps taking a step toward a more balanced housing market.”
Both new listings and active listings increased, with new listings up nine percent to 4,133 listings, and active listings up five percent to 7,174 listings. However, even with a rise to a three months’ supply, the Austin market is still well below the 6.5 months that is considered “balanced” by the Real Estate Center at Texas A&M University. Pending sales rose eight percent to 2,873.
Monthly total dollar volume again topped $1 billion, increasing 19 percent compared to July 2014 to $1,065,785,348.
July 2015 Sold Homes
Number of sold homes: 3,149 (Up 12% compared to July 2014)
Average sold price: $338,452 (Up 6% compared to July 2014)
Median sold price: $269,500 (Up 8% compared to July 2014)
Days on the market: 41 (Two more days than July 2014)
Single-Family Homes on the Market
New listings: 4,133 (Up 9% compared to July 2014)
Active listings: 7,174 (Up 5% compared to July 2014)
Pending sales: 2,873 (Up 8% compared to July 2014)