Austin: August home sales second-highest monthly level

AUSTIN – Central Texas home sales rose to their second-highest monthly level on record in August, according to the Austin Board of Realtors. A total of 3,082 sales closed last month — just short of the region’s all-time monthly record for sales of 3,135, which was just set in July.

August’s sales were more than twice the volume recorded three years ago, when there were 1,490 sales in August 2010. There were 6,075 homes on the market, 16 percent fewer than in August 2012.

The median rose 6.4 percent, with half the homes selling for more than $224,000 and half for less. On average, homes spent 43 days on the market, 19 fewer than in August 2012.

“The market continues to go strong all over Texas, especially in Austin,” said Jim Gaines with the Real Estate Center at Texas A&M University. Area housing experts say they expect demand to remain healthy for the remainder of the year.

The region’s job and population growth and rising apartment rents are among the factors spurring housing demand.

Read more at the Austin American-Statesman.