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June 2015: Austin-area home sales top 3,000 salesJune 2015: Austin-area home sales top 3,000 saleshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=2802015-07-25T05:00:00Z2015-07-24T00:00:00Z

AUSTIN - Austin-area home sales topped 3,000 sales for the first time since July 2013, increasing 5 percent year-over-year to 3,051 sales for the month of June, according to the Multiple Listing Service (MLS) report released July 21 by the Austin Board of Realtors (ABOR).

Mid-year statistics show that Austin-area home sales increased an average of 4 percent year-over-year to 13,917, putting 2015 on pace to potentially exceed 2014’s historical high in sales volume.

According to the report, the median price for Austin-area single-family homes increased 8 percent year-over-year to $272,250 in June 2015, while average price increased 2 percent to $333,866 during the same time frame.

Keeping with the upward trend over the last several months, less than three in ten single-family homes sold in the Austin area were priced below $200,000.

While new listings increased by 3 percent to 3,812 for June 2015, inventory held steady at 2.8 months, remaining well below the 6.5 month level the Real Estate Center at Texas A&M University estimates as a balanced housing market.

June 2015 Statistics include:

  • 3,051 – Single-family homes sold, 5 percent more than June 2014.
  • $272,250 – Median price for single-family homes, 8 percent more than June 2014.
  • $333,866 – Average price for single-family homes, 2 percent more than June 2014.
  • 42 – Average number of days single-family homes spent on the market, three days more than June 2014.
  • 3,812 – New single-family home listings on the market, 3 percent more than June 2014.
  • 6,701 – Active single-family home listings on the market, 4 percent more than June 2014.
  • 3,023 – Pending sales for single-family homes, 8 percent more than June 2014.
  • 2.8 – Months of inventory* of single-family homes, unchanged compared to June 2014.
  • $1,018,625,166 – Total dollar volume of single-family properties sold, 8 percent more than June 2014.


*The inventory of homes for a market can be measured in months, which is defined as the number of active listings divided by the average sales per month of the prior 12 months. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Click Austin Market Research​.

Austin Board of Realtors
Austin-Round Rock
Housing
http://www.abor.com/news_media/press_releases/2015/p6_15.cfmRead more at {Source}

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