Austin, Texas Real Estate Market Update and Statistics February 2015
published on February 20, 2015
Austin Home Prices Hit All-Time January High
2015 is off to a strong start for the Austin-area housing market. Single-family home prices reached all-time highs for the month of January, according to an Austin Board of REALTORS® report based on data from the Multiple Listing Service (MLS.) Home sales also posted double digit increases.
The median price for Austin-area homes increased 13 percent year-over-year to $240,000, with the average price increasing 14 percent to $310,187. This January 2015 home price increase is the highest year-over-year increase since September 2013.
In January, 1,547 single-family homes were sold, 11 percent more than January 2014. Fifty-four percent were in the $200k-$500k price range, and 35 percent sold for under $200k.
The total volume of single-family properties sold was $479,859,289, 27 percent more than January 2014.
Inventory supply was up .2 months compared to January 2014, but still over four months shy of what the Real Estate Center at Texas A&M University considers a balanced market. Active listings were up nine percent, and new listings increased one percent. Homes were selling in the same amount of time: an average of 63 days.
January 2015 Sold Homes
Number of sold homes: 1,547 (Up 11% compared to January 2014)
Average sold price: $310,187 (Up 14% compared to January 2014)
Median sold price: $240,000 (Up 13% compared to January 2014)
Days on the Market: 63 (Equal to January 2014)
Single-Family Homes on the Market
New listings: 2,360 (Up 1% compared to January 2014)
Active listings: 5,005 (Up 9% compared to January 2014)
Pending sales: 2,026 (Up 4% compared to January 2014)