Home sales continue to climb in Austin's scorching real estate market

March 22, 2106
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Austin Culture Map

As if you needed another reminder, Austin’s real estate market has no plans to cool down anytime soon. The latest report from Austin Board of Realtors (ABoR) details the statistics for February home sales that are fueling our fiery housing market.

Key findings in the report reveal some major increases. In February, single-family home sales increased by 2.9 percent from the year prior, with a total of 1,783 properties sold. Median single-family home prices increased 8 percent year-over-year, reaching $269,900. Additionally, the average price for single-family homes in Austin rose to $333,011, 7.6 percent more than February 2015.

New properties also experienced an influx of growth. New listings increased by 11.1 percent to 2,793 listings in February 2016, and active listings increased by 10 percent year-over-year reaching 4,871 listings. In addition, pending sales increased by 12.3 percent for a total of 2,346 sales.

While Austin real estate agents and sellers are bringing home the bacon, ABoR points to some serious issues that are surfacing for the entire city with this continued growth.

Read more . . .