Below are the sales stats for December 2006 as well as a 2005/2006 comparison summary. This month, on the chart directly below, I’ve added Duplex sales and Townhome sales so you can see how those track over time compared to single family homes.
2006 was a very strong year for the real estate market in Austin and I expect 2007 will be more of the same. December average sales prices were up 6.6% (less than the year as a whole), but 2006 over 2005 saw an average price appreciation of 9.5% overall, and a median price appreciation of 6.2%. Eliminating New Home sales from the stats reduced the gains somewhat, to 8.3% appreciation for average sales price of resale homes, and 5.8% appreciation for the median prices. More on that below.
In general, closer in areas appreciated much better than the further out areas, which is why we’ve tried to keep our investor buyers closer to Austin when possible.
Below is the December comparison for last month and last year.