Austin, Texas Real Estate Market Update and Statistics July 2015

Austin Monthly Home Sales Top $1 Billion for First Time, Plus: Mid-Year Report

Monthly home sales for the Austin area topped $1 billion in volume in June 2015, making it the highest dollar volume month ever for the central Texas region, and cumulative sales for 2015 signal a potential yearly record, possibly higher than 2014’s record-breaking sales volume, according to a Multiple Listing Service (MLS) report by the Austin Board of REALTORS®.

“June’s increased home sales, combined with total dollar volume exceeding $1 billion for the first time ever, shows the amazing equity Austin homeowners have in the market and the powerful impact of real estate in Central Texas,” said ABOR President Barb Cooper. “If this growth continues, 2015 could become another historical year for Austin-area home sales. Both homebuyers and sellers can expect a strong, competitive market for the rest of the summer selling season.”

Cooper cautioned, however, that strong volume “heightens the need to replenish and expand housing stock to help achieve sustainable growth.”

Sales

The total dollar volume of homes sold reached $1,018,625,166 in June 2015, an increase of eight percent compared to June 2014, and the total dollar volume in the first half of 2015 was $4,617,178,959, an increase year-over-year of 12 percent. Monthly home sales also topped 3,000 for the first time since July 2013, increasing five percent year-over-year to 3,051.

Prices

Home prices are continuing to increase. Median price for homes rose to $272,250 in June 2015, an increase of eight percent compared to June 2014, and average price rose to $333,866, an increase of two percent.

For the year so far, median price has risen to $263,000, an increase of 10 percent, and average price has risen to $331,765, an increase of eight percent.

Inventory

New listings rose three percent to 3,812 for June, active listings rose four percent to 6,701, and pending sales increased eight percent to 3,023. Inventory levels remained unchanged this past month, at 2.8 months, a balance well in favor of sellers.

June 2015 Sold Homes

• Number of sold homes: 3,051 (Up 5% compared to June 2014)
• Average sold price: $333,866 (Up 2% compared to June 2014)
• Median sold price: $272,250 (Up 8% compared to June 2014)
• Days on the market: 42 (Three more days than June 2014)

Single-Family Homes on the Market

• New listings: 3,812 (Up 3% compared to June 2014)
• Active listings: 6,701 (Up 4% compared to June 2014)
• Pending sales: 3,023 (Up 8% compared to June 2014)

2015 Year-to-Date (Mid-Year) Statistics

• Number of sold homes: 13,917 (Up 4% compared to the first half of 2014)
• Average sold price: $331,765 (Up 8% compared to the first half of 2014)
• Median sold price: $263,000 (Up 10% compared to the first half of 2014)
• Average days on the market: 50 (Three more days than the first half of 2014)
• New listings: 19,865 (Up 3% compared to the first half of 2014)
• Active listings: 5,727 (Up 8% compared to the first half of 2014)
• Pending sales: 15,984 (Up 5% compared to the first half of 2014)
• Total dollar volume of sold homes: $4,617,178,959 (Up 12% compared to the first half of 2014)