AUSTIN – Although the inventory of single-family homes dropped to an all-time October low, home sales experienced a double-digit percent increase in the metro, according to the Austin Board of Realtors.
Last month, single-family home sales increased 16.8 percent to 2,721 sales. The median sales price increased 7.4 percent to $327,000.
The metro's escalating demand and record-breaking median home price resulted in a 23.3 percent increase in sales dollar volume, raising October's total to $1.1 billion.
New listings increased 8.4 percent to 3,067 listings, while active listings decreased 12.1 percent to 6,381 listings. Pending sales jumped 25.3 percent to 2,866 pending sales.
Housing inventory decreased 0.5 months year over year to 2.3 months of inventory.
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