Home sales and prices in the Austin, Texas, area reached new highs for the month of November, signaling a still-hot market, the Austin Board of Realtors reported today.

According to the latest Multiple Listing Service report, a record 1,902 single-family homes were sold last month, up 6 percent from approximately 1,795 sales in November 2005. Last month was the 11th consecutive month of year-over-year sales gains, according to statistics.

The median home price of $175,000, although unchanged from October, set a record for November and was up 3 percent from a year ago.

Property owners are beginning to postpone their selling plans, as the 2,340 new listings added to the market last month represented a drop of 24 percent from October and 3 percent from a year ago. Despite the decline in new listings, active inventory at the end of November totaled 7,354, still 3 percent higher than the same month last year.

Single-family homes that sold in November spent an average of 68 days on the market, which is unchanged from a year ago, but is two days longer than the October average, according to statistics.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Real estate news and analysis that gives you the inside track. Subscribe to Inman Select for 50% off.SUBSCRIBE NOW×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription