August Sales Numbers Back Up for Austin Area

Austin area sales numbers during the month of August were quite promising, especially after a slight dip during July. The number of single-family homes sold during August was 2,985, or 5% more than in August of 2015.

The growing tech market, entrepreneurial spirit, and increasing number of jobs in Austin is helping to keep the real estate market going strong.

The President of the Austin Board of REALTORS­®, Aaron Farmer, recently said, “Austin, and now the Central Texas region at large, continues to be a magnet for jobs and new businesses across multiple industries. This continues to keep housing demand in an all-time high and inventory at near-record lows despite strong housing development and a greater number of listings on the market.”

Farmer went on to say, “As housing inventory remains constrained across the Central Texas region and demand remains high, home sales growth is increasingly impacted by new home development.”

For reference, the median house price for a single-family home was up 9% over August of last year, coming in at $289,990. However, the average number of days a property stays on the market has not changed since last year, and is still at 42 days.

The infographic below (courtesy of ABoR), gives a colorful illustration of the report’s full statistic.