Austin area home sales reach seven-year highAustin area home sales reach seven-year highhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=54102013-12-20T09:43:00Z2013-12-19T00:00:00Z

AUSTIN - Sales of existing homes in the Austin area rose 14 percent in November 2013, hitting a seven-year high for the month, according to the Austin Board of Realtors.

There were nearly 1,900 single-family home sales in November 2013 compared to 1,662 in November 2012.

The median sales price in November 2013 was $219,530, up about 10 percent from November 2012’s $199,920 median. In all, Austin-area homebuyers spent $555.7 million on single-family homes in November 2013, 24 percent above November 2012.

The supply of homes remained at a historically low level of 2.3 months, and homes spent an average of 51 days on the market, 16 fewer days than in November 2012.

Year-to-date through November 2013, there have been 25,289 sales, a 19 percent increase from the same period in 2012. It is expected that 2013 close with an equal or higher home sales volume than the 2006 peak, when just over 26,950 homes were sold.

Sales of townhomes and condominiums were also up 35 percent over November 2012. A total of 223 townhomes and condominiums were sold in November 2013.

Leasing activity also rose by 6 percent over November 2012, with 1,162 properties leased.

Austin Business Journal
Austin-Round Rock
http://www.bizjournals.com/austin/blog/real-estate/2013/12/home-sales-continue-to-rise-in-november.htmlRead more at {Source}

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