The Austin Board of Realtors just released the January 2015 Housing Statistics. Home prices in January increased by double-digit percentages for the fourth-consecutive month. In January, the median price for home jumped 13 percent to $240,000 and the average price jumped 14 percent to $310,187.
Here are some interesting statistics in the report:
• 1,547 homes sold
• 54 percent of those homes were priced between $200,000 and $500,000
• 35 percent of those homes were priced for less than $200,000, considered affordable for many households
• 63 days on the market for single family homes, the same as a year ago.
• 2,360 new home listings, 1 percent more than a year ago.
• 5,005 active single family home listings, 9 percent more than a year ago.
• 2,026 pending single family home sales, 4 percent more than a year ago.
• $479,859,289 total volume, 27 percent more than a year ago.
• 135 condos and townhomes sold, 30 percent less than a year ago.
• $218,250 median price for condos and townhomes, 4 percent more than a year ago.
The President of the Austin Board of Realtors states “Housing inventory is rising, but the current pace is not enough to alleviate Austin’s affordability challenges…”