Austin-area home sales maintain last year’s pace
Austin Board of REALTORS® releases real estate statistics for May 2014
AUSTIN, Texas – June 20, 2014–
According to the Multiple Listing Service (MLS) report released today
by the Austin Board of REALTORS®, Austin-area home sales continued last
year’s competitive pace in May 2014 while prices increased. Also, for
the first time in more than three years, the number of active listings
on the market grew compared to the prior year.
Bill Evans, 2014 President of the Austin Board of REALTORS¬®, explained, “The Austin market has been in need of housing stock for some time now, so it’s encouraging to see an increase in listings over last year. With sales volumes remaining strong, the market is still competitive, but the options for buyers are beginning to increase.”
The total inventory* of Austin-area homes in May 2014 was 2.6 months, the highest rate of inventory seen in Austin since last September but still a slight decrease of 0.1 months from May 2013. Measured in months, Austin’s monthly housing inventory is the result of the current number of active listings divided by the average home sales per month of the prior 12 months.
Evans explained, “The May 2014 increase in active listings was not quite enough to offset Austin’s continual year-over-year decrease in housing inventory, which looks at homes sales over a 12-month period. However, if active listings continue to increase on a monthly basis, we will eventually see an increase in Austin’s housing inventory level.”
May 2014 Statistics
- 2,943 Single-family homes sold - UP 3% from May 2013.
- $249,00 Median price for single-family homes - UP 8% from May 2013.
- 5,949 Active single-family home listings on the market - UP 4% from May 2013.
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Copyright © Robin Scott, REALTOR® 2014.
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