The Austin Board of REALTORS® (ABoR) released their report of the June, 2015 Austin Real Estate Market Stats using information pulled from the Multiple Listing Service (MLS). The data showed that over there were over 3,000 Austin-area homes sold for the first time since July 2013. This number is up five percent year-over-year, to 3,051 sales, for the month of June. Mid-year statistics show that Austin-area home sales have seen an increase on average of four percent year-over-year to 13,917, putting 2015 on pace to potentially exceed 2014’s historical high in sales volume.
The most striking statistic in June 2015 was the total dollar volume in sales, which landed at $1,018,625,166. This is a jump of eight percent compared to June 2014. Additionally, the total dollar volume of single-family properties sold in the first half of 2015 was $4,617,178,959, a year-over-year increase of 12 percent.
Barb Cooper, 2015 President of the Austin Board of REALTORS¬®, explained,
“June’s increased home sales, combined with total dollar volume exceeding $1 billion for the first time ever, shows the amazing equity Austin homeowners have in the market and the powerful impact of real estate in Central Texas. However, this increase heightens the need to replenish and expand housing stock to help achieve sustainable growth.”
According to the information in the report, median prices for Austin-area single-family homes increased eight percent year-over-year to $272,250 in June 2015. Meanwhile, the average price was up two percent to $333,866. As has been the mainstay over the past few months, less than three out of very 10 single-family homes sold in the Austin area were priced below $200,000.
Price increases are similar for the first half of 2015, with median price increasing 10 percent to $263,000. Average prices increased eight percent to $331,765.
“If this growth continues, 2015 could become another historical year for Austin-area home sales. Both homebuyers and sellers can expect a strong, competitive market for the rest of the summer selling season,” said Cooper.
Active listings rose four percent year-over-year to 6,701 listings in June 2015, while pending sales increased by eight percent to 3,023 compared to June 2014.
Barb Cooper final statement was:
“While growth shows positive momentum for our city, ABoR supports solutions that serve the entire community, accommodate new populations and help residents find the homes they want. To help achieve these goals, ABoR and Austin REALTORS® recently met with members of the Austin City Council and Mayor Adler to discuss big picture issues affecting Central Texas residents and with a strong focus on sustainable and managed growth. We’re pleased to see the steps city leaders are taking toward a more affordable Austin.”