Austin home prices, sales volume hit all-time highsAustin home prices, sales volume hit all-time highshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=12072015-04-23T15:14:00Z2015-04-23T09:00:00Z

AUSTIN - Central Texas home prices and sales volume hit an all-time high in March 2015, according to the Austin Board of Realtors.

“The Austin-area housing market is the least affordable it has ever been,” said ABOR President Barb Cooper.

FitchRatings recently raised the ire of local economists and real estate professionals by reporting that Austin homes were collectively overvalued by 20 percent — the highest in the country.

ABOR’s new statistics peg the median price for Austin-area single-family homes as increasing 10 percent year-over-year to $255,000 in March 2015. The average price increased 13 percent to $334,758 during the same time.

This is the highest Austin-area home prices have ever been, and only three in ten single-family homes sold locally in March were priced less than $200,000.

Home sales increased 13 percent year-over-year to 2,440 home sales in March, a new volume record for that month.

In March, more than half of the homes sold in the Austin area were outside of Austin’s city limits.

Most out-of-Austin sales occurred in Round Rock, Pflugerville, Georgetown, Cedar Park, Leander, Kyle and Buda.

Austin’s monthly housing inventory was statistically unchanged from March 2014 at 2.2 months, a figure still well below the 6.5-month level the Real Estate Center at Texas A&M University estimates as a balanced housing market.

See Austin NewsTalk, Austin Market Research

Austin Business Journal
Austin-Round Rock
http://www.bizjournals.com/austin/blog/real-estate/2015/04/austin-home-prices-hit-all-time-high-realtors.htmlRead more at {Source}

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