Austin-area single-family home sales increased year-over-year for the fifth consecutive month in October 2015, according to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS® (ABoR).
Barb Cooper, 2015 President of the ABoR, explained, “We’re on pace for another record year and while home sales typically slow each fall, housing demand has remained strong far past the typical peak selling season. This demand stems from strong employment and our area’s high growth rate—factors that help create a stable housing market.”
Austin was ranked the second-most stable housing market in the U.S., according to a recent Freddie Mac report. The report ranked Austin’s housing market as “improving,” with positive gains in employment and mortgages in good standing.
“A stable housing market bodes well for Central Texas,” added Cooper. “But we need to find ways to give more Austin-area homeowners access to that stability by increasing our density, preserving our existing housing stock through stronger code enforcement and creating more affordable housing options.”
October 2015 Statistics
- 2,378 – Single-family homes sold, two percent more than October 2014.
- $252,790 – Median price for single-family homes, five percent more than October 2014.
- $333,452 – Average price for single-family homes, seven percent more than October 2014.
- 50 – Average number of days single-family homes spent on the market, one day fewer than October 2014.
- 2,847 – New single-family home listings on the market, statistically unchanged compared to October 2014.
- 6,342 – Active single-family home listings on the market, three percent more than October 2014.
- 2,339 – Pending sales for single-family homes, four percent more than October 2014.
- 6 – Months of inventory* of single-family homes, 0.1 months less than October 2014.
- $792,948,856 – Total dollar volume of single-family properties sold, 10 percent more than October 2014.
Interested in buying or selling a home in Austin? Gives us a call!
[h/t ABoR]