9th Consecutive Month of Year-Over-Year Increases in Sales Volume

According to Austin’s Multiple Listing Service, 1,283 single-family homes were sold in the Austin area in February 2012, which is 16% increase from February 2011. The median price for homes in the Austin area was $195,000, which is 3% percent more than February of last year.

The Chairman of the Austin Board of Realtors stated, “For nine months in a row, Austin has seen year-over-year increases in sales volume. In addition, we also saw a modest increase in the median home price in February 2012, which could indicate more competition among buyers for a shrinking inventory of homes.”

In February 2012, the Austin market had 4.2 months of inventory, 1.5 months less than February 2011.  However, there were also 25% more pending sales.  On average, homes spent 86 days on the market in February 2012, 12 days less than February 2011.  The higher demand and lower supply of homes bodes well for home values in Austin and surrounding areas.

Christine -

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