Industry News

Austin real estate sees growth spurt

Sales soar as prices stabilize

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Home sales in the Austin, Texas, area climbed 28 percent in August from a year ago, the Austin Board of Realtors reported today. Single-family home sales totaled 2,759 last month, up from approximately 2,150 sales in August 2004. The median price at which these properties sold was $169,620, an increase of 9 percent from a year ago, but down slightly from $169,740 in July. Multifamily property sales increased by 108 percent during the last 12 months to 179, while townhouse/condominium sales increased 40 percent to 256. While sales increased, the number of new and active single-family listings on the market fell. The 3,105 new listings in August represent a 12 percent decrease from 2004, and the 8,302 that are active represent a dip of 15 percent. At an average 67 days on the market, these properties sat for 4 percent less time than they did one year ago. The Austin Board of Realtors is a non-profit, voluntary organization representing more than 7,000 licensed Realtors in Central ...