Austin, Texas Real Estate Market Update and Statistics January 2016
published on January 22, 2016
Austin Real Estate Sets All-Time Records in 2015
December 2015 was another strong month for Austin real estate, capping off a record-breaking year.
See below for Year of 2015 and December 2015 market statistic reports:
Single family home sales and prices set all-time records for the year 2015, with home sales increasing five percent to 29,068 homes sold, and prices rising nine percent to a median of $263,900, according to a report from the Austin Board of REALTORS®.
The number of active listings in 2015 rose five percent to 6,044, and new listings increased four percent to 36,810. Pending sales rose five percent to 29,839. Homes did spend two more days on the market, for an average of 49 days.
The increase in activity led to a year-end total sales amount of almost $9.7 billion, more than $1 billion higher than 2014’s total and a 13 percent increase.
“Demand for Austin-area real estate was stronger than ever in 2015, primarily due to our region’s job and ongoing population growth,” said 2016 ABOR President Aaron Farmer. “However, low housing inventory levels, rising home prices and high housing development costs have brought Austin’s housing affordability issues to critical levels.” He cited that the median price for homes has increased nearly $30,000 in the last year alone.
2015 Sold Homes
Number of sold homes: 29,068 (Up 5% compared to 2014)
Average sold price: $333,558 (Up 8% compared to 2014)
Median sold price: $263,900 (Up 9% compared to 2014)
Days on the market: 49 (Up two days compared to 2014)
2015 Single-Family Homes on the Market
New listings: 36,810 (Up 4% compared to 2014)
Active listings: 6,044 (Up 5% compared to 2014)
Pending sales: 29,839 (Up 5% compared to 2014)
For the month of December 2015, home sales set a monthly record, increasing five percent year-over-year to 2,390 sales. The median price for the month was $270,000, 10 percent more than December 2014.
Active listings rose three percent year-over-year to 5,214, and new listings increased six percent to 1,646. Pending sales decreased one percent year-over-year to 1,601. Homes were on the market an average of 57 days, one day more than the previous December.
The total dollar volume was $833,880,560, 19 percent more than December 2014.
Monthly housing inventory in December 2015 was unchanged from December 2014 at 2.2 months, almost a third of the 6.5 months’ supply considered balanced between buyers and sellers by the Real Estate Center at Texas A&M University.
December 2015 Sold Homes
Number of sold homes: 2,390 (Up 5% compared to December 2014)
Average sold price: $348,904 (Up 13% compared to December 2014)
Median sold price: $270,000 (Up 10% compared to December 2014)
Days on the market: 57 (Up one day compared to December 2014)
December 2015 Single-Family Homes on the Market
New listings: 1,646 (Up 6% compared to December 2014)
Active listings: 5,214 (Up 3% compared to December 2014)
Pending sales: 1,601 (Down 1% compared to December 2014)