Austin’s resale housing market grows stronger

AUSTIN – Austin’s resale housing market continues to grow at a robust pace based on the latest data released by the Austin Board of Realtors.

Some 3,082 homes were sold in August: 30 percent more than a year ago and more than double of what was sold in Aug. 2010 — while median home prices also increased.

Still, it was slightly less than how many sold in July, which posted 3,135 sales.

Highlights of the August report:

• The median price of a single-family home was $224,000, 6 percent more than Aug. 2012.
• Single-family homes remained on the market an average of 43 days, 19 days fewer than last year.
• There were 2.8 months of inventory available, 1.2 months less than last year.
• The total volume of homes sold was $883.1 million, 36 percent more than last year.
• In August, 361 townhouses and condos were sold, 32 percent more than last year.
• The median price of a townhouse or condo was $193,700, 14 percent more than last year.
• Townhouses and condos remained on the market an average 40 days, 37 percent less than last year.