Industry News

Austin real estate sales see strong November

Double-digit gains grace sales, prices

Home sales and prices in the Austin, Texas, region continued higher in November, according to the latest Multiple Listing Service from the Austin Board of Realtors. Single-family home sales for November totaled 1,870, representing a 24 percent increase from the same month a year ago. The median price of these homes was $170,000, up 15 percent from November 2004. The 7,173 active listings represented a 14 percent decrease from last year. At an average of 68 days, these homes sat on the market for 13 percent less time than a year ago, the board reported. Other property types also showed growth last month. Multifamily home sales were up 61 percent, totaling 127. Townhouse/condominium sales rose 53 percent to 178. The Austin Board of Realtors is a non-profit, voluntary organization representing more than 7,000 licensed Realtors in Central Texas. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....