Austin, Texas Real Estate Market Update and Statistics May 2015

All-Time Highs for Austin Real Estate

Austin area home sales increased for the eighth-straight month in April, breaking the April sales volume record and hitting an all-time high for prices, according to the April 2015 Multiple Listing Service (MLS) report released by the Austin Board of REALTORS®.

“The summer selling season doesn’t usually start in April, but it arrived early this year with significant increases in single-family home sales and prices for April 2015,” said ABOR President Barb Cooper.

Home Prices

Home prices in the Austin area hit an all-time high, once again. For April 2015, the median price increased 14 percent year-over-year to $274,000, and the average price increased 11 percent to $341,054.

“Showing the impact of these increases, it cost nearly $20,000 more to buy a home in April 2015 than in March 2015 – one of the largest jumps in median home price that we’ve seen in years,” said Cooper.

Sales Volume

Sales volume for homes also set a record. For April 2015, home sales volume increased eight percent year-over-year to 2,568 home sales.

The total sales volume of single-family properties sold was $875,826,672, 19 percent more than April 2014.

Inventory

In April, total home listings increased 11 percent to 5,915. New listings increased nine percent to 3,807. This resulted in an additional .2 months’ supply for the market, raising it to 2.5 months of inventory. Austin is still considered to be a sellers’ market, as this level is four months shy of the level considered balanced by the Real Estate Center at Texas A&M University.

Pending sales also rose, increasing four percent year-over-year to 2,909.

April 2015 Sold Homes

• Number of sold homes: 2,568 (Up 8% compared to April 2014)
• Average sold price: $341,054 (Up 11% compared to April 2014)
• Median sold price: $274,000 (Up 14% compared to April 2014)
• Days on the Market: 46 (One more day than April 2014)

Single-Family Homes on the Market

• New listings: 3,807 (Up 9% compared to April 2014)
• Active listings: 5,915 (Up 11% compared to April 2014)
• Pending sales: 2,909 (Up 4% compared to April 2014)