Austin sales continue to be hot in many areas. The graph below shows citywide stats for January Sales. The Average Sales Price for homes in Austin is up 15% from January a year ago. The Median Sales Price is up 12% from a year ago.
While each year since 2003 has shown modest improvement, the jump from 2005 to 2006 is notable. The broad, general numbers in a graph like this are what you read about in newspaper and magazine articles, but these numbers don’t tell you what’s going on in specific areas and neighborhoods.
Also, sales of new homes somewhat pollute the MLS data with inflated list prices and Days on Market. I’d have to write a whole ‘nother blog article to explain the nuances of this (and I probably will because it bugs me), but the easiest way to say it is that new homes and existing homes are apples and oranges to some degree, yet their stats are mixed and treated equal in most public reporting, press releases, etc.
Let me know if you have questions about a specific area in Austin.