ABoR: Austin home sales dip among rising prices

AUSTIN – The Austin Board of Realtors (ABoR) has released data for August 2014, which became the second consecutive month of declining home sales.

Austin-area home sales decreased 4 percent from August 2013, with 2,835 single-family homes sold. The decline is attributed to rising home prices and housing affordability issues.

“A majority of Austin-area homes are now priced out of an affordable range for first-time and first-time move up homebuyers, where a significant portion of home sales volume occur,” said Bill Evans, President of ABoR.

August 2014 Statistics

•  $247,500: Median price for single-family homes, 11 percent more than August 2013.
•  $311,414: Average price for single-family homes, 9 percent more than August 2013.
•  42: Average number of days single-family homes spent on the market, one day fewer than August 2013.
•  3,310: New single-family home listings on the market, 4 percent more than August 2013.
•  6,707: Active single-family home listings on the market, 10 percent more than August 2013.
•  3.0: Months of inventory* of single-family homes, 0.2 months more than August 2013.

For more stats and information on housing and more, check out Austin-Round Rock-San Marcos Market Data Sources.