Austin home sales, prices hit record high in Feb. 2014

AUSTIN – The local housing statistics show that home sales and home prices hit an all-time high in February. The average price of a single family home in February was $293,746, up 12 percent from the same month in 2013, according to the Austin Board of Realtors.

In February 2014, the median price for Austin-area homes was $230,530 — an 11 percent gain from February 2013. There were 1,761 sales, up 9 percent from February 2013, and 4,724 active listings, 8 percent fewer than the same period last year.

In February 2014, inventory remained at a historically low level of 2.0 months, compared to 2.6 months of inventory in February 2013. Austin-area homes also continued to sell at an accelerated rate, spending an average of 55 days on the market in February 2014 and 16 days fewer than in 2013.

The total dollar volume in February 2014 was $517,286,706, a 21 percent increase from February 2013.