Austin TX Real Estate Market Update for May 2015
(Single-family home sales dipped 2% to 2,767 home sales in May.
Decrease home sales and an increase in active listings caused inventory levels to rise in May 2015. Austin-area housing inventory increased 0.1 months year-over-year to 2.7 months in May 2015, a figure still well below the 6.5 month level the Real Estate Center at Texas A&M University estimates as a balanced housing market.
According to the Real Estate Center at Texas A&M University single family home prices remained high for the month of May 2015 outpacing historical appreciation, which is typically 4% annually.
May 2015 Statistics
- 2,767 – Single-family homes sold, two percent less than May 2014.
- $271,000 – Median price for single-family homes, nine percent more than May 2014.
- $348,201 – Average price for single-family homes, seven percent more than May 2014.
- 42 – Average number of days single-family homes spent on the market, two days more than May 2014.
- 3,865 – New single-family home listings on the market, three percent less than May 2014.
- 6,323 – Active single-family home listings on the market, six percent more than May 2014.
- 2,936 – Pending sales for single-family homes, unchanged from May 2014.
- 2.7 – Months of inventory* of single-family homes, 0.1 months more than May 2014.
- $963,472,167 – Total dollar volume of single-family properties sold, five percent more than May 2014.
Selling or buying your home in Austin-area with results when you contact real estate professional Bob Ratliff, Broker Associate serving the Greater Austin metro area over fifteen years
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