Industry News

Home sales surge in Texas capital

Austin Realtors report record transactions

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Single-family home sales in the Austin, Texas, area rose 34 percent in May from a year ago, and set a record with 2,002 closed transactions, according to the Austin Board of Realtors. May's home sales surpassed the all-time high of 1,985 set in August 2003. The median home price for single-family homes showed a slight drop, remaining relatively steady at $157,750, a decrease of 1 percent from last May's median home price. Available inventory in Austin featured almost no change from this time last year. According to ABoR's MLS Report, Realtors listed approximately 10,081 active listings in the MLS system during May, a minimal decrease from last May's 10,100 active listings. The amount of time homes spent on the market before selling also remained steady from May 2003. The average single-family home spent 65 days on the market, showing virtually no change from May 2003. The Austin Board of Realtors is a non-profit, voluntary organization representing more than 5,500 licensed Re...