Austin home sales nail July record

Single-family home sales in the Austin, Texas, area posted a seventh consecutive month of double-digit growth in July and set a record for the month, according to the latest Multiple Listing Service report from the Austin Board of Realtors.

In July, Realtors reported a record 2,721 single-family home sales, up 11 percent from July 2005 -- although this was down from June's total of 2,980 sales. Year to date, 15,778 single-family properties have sold in the Austin market, up 13 percent from the same period in 2005.

The median price of a single-family home last month also broke a record at $178,190, up 5 percent from July 2005, but down from June's record of $182,000.

The number of active listings decreased 6 percent year-over-year in July to 8,368, and was down from 8,477 listings in June.

According to the latest report from the National Association of Realtors, existing-home sales nationwide have been down each month since April, impacted significantly by rising interest rates and for-sale inventories. The report for July will be released later this month.

The Austin Board of Realtors is a non-profit, voluntary organization representing more than 7,500 licensed Realtors in Central Texas.

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