Austin Market Update
In looking at what happened with Homes sales here in Austin during the month of April, we see that the listing
inventory has dropped but the sold prices have increased. Overall sales for the market are up too.
April 2007—Single-family Homes- 2,313 homes sold, up 6% from April 2006
- $185,000 was the median price, a 6% increase from 2006
- $578,846,754 was the total dollar volume of properties sold, a 14% increase from a year ago
The "New Listings" average list price is up 18.61% to $332,105.
Sold average sales prices increased 5.87% to $243,425 compared to $229,921 in 2006.
Townhome & Condo Sales
The townhouse and condo sales continue to be Austin's real estate strong point, pulling in $49,615,118 for the local economy, which is 9% more than in 2006. The 266 townhouse/condominium properties sold represent a 2% increase in sales from one year ago. The downtown Austin condo market is fueling a lot this growth.
The Austin area median price remains very affordable compared to the national median price, which, according to the National Association of REALTORS®, averaged $212,300 in the first quarter of 2007.
