Austin Residential Home Sales continue to be very strong. The number of homes sold increased 21% from 2,462 last June to 2,980 June 2006. At the same time, the number of active listings fell 2% from 8,637 to 8,477. The number of Pending Sales in June is up 31% from a year ago, from 2,506 to 3,286. This continued increase in demand along with reduced inventory is driving healthy value appreciation despite rising interest rates.
Average Sales Price is up 12% from a year ago, from $219,196 in June 2005 to $245,655 June 2006.
Median Sales Price is up 8% from a year ago from $168,500 to $182,000 (a new Austin record high)
note: the graph below has the wrong median amount on the chart, it’s $168,500 not $165,800.