Austin-area Real Estate Market Update for March 2016
Austin-area monthly housing inventory was 2.1 months in February 2016, an increase of 0.1 months from February 2015. The Real Estate Center at Texas A&M University estimates a balanced market still below 6.5 month level.
Austin-area market update indicates new listings increased by 11.1 percent to 2,793 listings in February 2016 and active listings increased by 10 percent year-over-year reaching 4,871 listings. Additionally, pending sales increased by 12.3 percent at 2,346 sales
February 2016 Statistics
1,783 – Single-family homes sold, 2.9 percent more than February 2015.
$269,900 – Median price for single-family homes, 8.0 percent more than February 2015.
$333,011 – Average price for single-family homes, 7.6 percent more than February 2015.
62 – Average number of days single-family homes spent on the market, three days more than February 2015.
2,793 – New single-family home listings on the market, 11.1 percent more than February 2015.
4,871 – Active single-family home listings on the market, 10 percent more than February 2015.
2,346 – Pending sales for single-family homes, 12.3 percent more than February 2015.
2.1 – Months of inventory* of single-family homes, 0.1 months more than February 2015.
$593,758,953– Total dollar volume of single-family properties sold, 10.7 percent more than February 2015.
Austin market chart below is of the city of Austin city Market Trends
Austin-area Real Estate Market Update for March 2016 is brought to you by
Bob Ratliff, REALTOR® (512) 587-5689 your local Austin real estate consultant.
When buying or selling homes, condos, townhouses or land in the Austin-area I can assist in your real estate wants and needs.
