Central Texas home sales up 14 percent in November

Dec 20, 2013
Austin American Statesman

Sales of existing homes in the Austin area rose 14 percent in November, hitting a seven-year high for the month, the Austin Board of Realtors said today


The 1,899 single-family home sales compared with 1,662 the prior November, and marked the highest volume for November since 2006, the board said in its latest monthly report


The median sales price last month was $219,530, up about 10 percent from November 2012’s $199,920 median


“With strong activity across all segments of the market, the Austin-area housing market has been full steam ahead through the holidays and the rest of the year,” said Cathy Coneway, chair of the Austin Board of Realtors. “Our city’s population and job growth show no signs of slowing down, so 2014 will likely be another competitive year for Austin real estate.”


The supply of homes remained at a historically low level of 2.3 months, which is how long it would take to exhaust the existing inventory at the current sales pace. Homes spent an average of 51 days on the market, 16 fewer than in November 2012


Year-to-date through November, there have been 25,289 sales, a 19 percent increase from the same period and a level that is expected to see 2013 close with equal or higher home sales volume since their 2006 peak, when just over 26,950 homes were sold


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