Industry News

Austin posts record year in real estate

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Home sales in the Austin, Texas, region climbed again in December, helping to make 2005 a record year, while prices were unchanged from the previous month, according to the latest report from the Austin Board of Realtors. The 2,019 homes sold in December, which represent a 7 percent increase from the year before, helped push the total number of 2005 sales to 24,539, the ABoR reported. That number reflects an 18 percent increase from 2004, which was, itself, a record-setting year. According to the latest Multiple Listing Service report, the December median price of single-family properties rose 10 percent from a year ago to $170,000 but was unchanged from the previous month. Overall, the 2005 year-end median price increased 6 percent to $164,000. These properties sat on the market for an average of 70 days during 2005, a 3 percent reduction from 2004. The number of active listings also declined, by 14 percent, to 8,122. With the housing market showing few signs of slowing, industry fo...