Austin, Texas Real Estate Market Update and Statistics October 2015
published on October 26, 2015
Austin Home Sales and Prices Hit Record Highs for September
While August 2015 saw record highs in Austin-area home prices, September 2015 saw all-time highs in both home prices and in home sales,according to a Multiple Listing Service (MLS) report by the Austin Board of REALTORS®. Home sales reached 2,603, an increase of seven percent year-over-year, and median price reached $258,000, an increase of eight percent year-over-year.
The average price for Austin-area single-family homes reached $324,150 in September 2015, a five percent increase compared to last September.
New listings increased 11 percent for the month to 2,860 listings, and active listings increased four percent for the month to 6,759 listings. However, housing inventory stayed flat at a 2.8-month supply, remaining unchanged compared to September 2014, due to a nine percent increase in pending sales to 2,391 single-family home sales. The Austin-area housing market clearly is still a sellers’ market, as inventory levels would have to reach an approximately 6.5-month supply to be considered balanced by the Real Estate Center at Texas A&M University.
Homes were on the market an average of 47 days in September 2015, an increase of three days compared to September 2014. The total dollar volume of single-family properties sold in September 2015 was $843,762,450, 13 percent more than September 2014.
Austin Board of REALTORS® President Barb Cooper said that current demand for homes bodes well for home sales throughout the rest of year.
September 2015 Sold Homes
Number of sold homes: 2,603 (Up 7% compared to September 2014)
Average sold price: $324,150 (Up 5% compared to September 2014)
Median sold price: $258,000 (Up 8% compared to September 2014)
Days on the market: 47 (Up three days compared to September 2014)
Single-Family Homes on the Market
New listings: 2,860 (Up 11% compared to September 2014)
Active listings: 6,759 (Up 4% compared to September 2014)
Pending sales: 2,391 (Up 9% compared to September 2014)