Austin area Sept. home sales, median price rise

AUSTIN – The local area’s housing market continued its upswing in September, with sales of existing homes up nearly 10 percent and the median price rising 5 percent, to $198,250, according to Austin Board of Realtors (ABOR).

The figures from ABOR showed that 1,806 single-family homes were sold last month, marking the 16th straight month of sales increases and the eighth straight month of median price increases in the Austin area.

There were 6,812 homes listed for sale, 20 percent fewer than in September 2011. Pending sales were up 14 percent, which could signal another month of sales increases for October.

The region now has a 3.7-month supply of homes — 1.7 months less than September 2011 and the lowest level seen in Central Texas in the last decade.

Read more at the Austin American-Statesman.