Austin closes decade with record-breaking $13 billion in home salesAustin closes decade with record-breaking $13 billion in home saleshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237422020-01-21T06:00:00Z2020-01-23T22:00:00Z

​​​​AUSTIN – The metro closed out the decade with a record 33,084 homes sales in 2019 and $13 billion in sales volume, according to the Austin Board of Realtors (ABoR). ​

In December 2019, sales volume increased 9.2 percent to 2,608 sales, while inventory decreased by 0.5 months to 1.7 months of inventory. The Real Estate Center considers six to 6.5 months of inventory a balanced market.

December 2019 statistics for Austin-area housing

Growing demand pushed the median price of a single-family home to $323,000.

New listings increased 1.4 percent year over year to 39,309 listings. Active listings decreased 4.3 percent to 6,216 listings. and pending sales increased 10.5 percent to 33,976.

Although the local housing market is doing well, ABoR President Romeo ​Manzanilla warns, "If we don't take action to increase housing supply in Austin, we will continue to see exponential increases in home values."

texaslogo.pngThe Real Estate Center has more information on housing:​
Austin Board of Realtors
Austin-Round Rock
Read more at {Source}

 Search NewsTalk Texas