Industry News

Austin real estate sales rise sharply

Activity poised to break annual record

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Single-family home sales in the Austin, Texas, area soared 25 percent in November from a year ago, the Austin Board of Realtors reported Wednesday. Realtors reported that 1,589 homes were sold in the region in November. From January through November 2004, 19,044 homes were sold in Central Texas. 2004 is the sixth consecutive year in which more than 18,000 homes have been sold in Austin. The Austin Board of Realtors projects that 2004 will be the first year for total homes sold to exceed 20,000. In November 2004, the median price for a new home in Austin was $147,900 and the year-to-date median was $155,460. Economists predict the median home sales price in the Austin area to increase and continue to rise in the next five years as the economy regains strength. The Austin Board of Realtorsis a non-profit, voluntary organization representing more than 6,000 licensed Realtorsin Central Texas. *** What's your opinion? Send your Letter to the Editor to