Breakthrough: Austin home sales top $1B

AUSTIN – Austin home sales volume topped $1 billion in the month of June — the highest collective amount ever recorded.

"(It) shows the amazing equity Austin homeowners have in the market and the powerful impact of real estate in Central Texas," said Barb Cooper, the 2015 president of the Austin Board of Realtors (ABoR).

Also, for the first time in two years, the number of sales topped 3,000. The 3,051 recorded transactions is more than a 10 percent increase from May.

The median home price in June stands at $272,250, 8 percent higher than June 2014. The average sales price is $333,866, 2 percent higher than a year ago. The average price dropped, however, compared to May when it was $348,201.

Here is a look at other highlights of the ABoR report for June transactions:

• Total volume: $1,018,625,166
• Homes sold: 3,051, up 5 percent from a year ago
• Average days on market: 42, three more than a year ago
• New single-family listings: 3,812, up 3 percent from a year ago
• Active single-family listings: 6,701, up 4 percent from a year ago

Click to see the full report from the Austin Board of Realtors.