August 2015 Austin Market Report

Posted on Tuesday, September 22nd, 2015 at 1:45pm.

August 2015 Austin Market Report

Austin’s hot summer selling season may be over, but that doesn’t mean home sales have stopped! According to the latest numbers from the Austin Board of Realtors, home sales in August were up 8% since last year with 2,943 homes sold. The Austin market also saw significant increases in pending sales, which were up 11% over August 2014. Austin home prices continued to increase, setting a new record for the month with a median price of $265,000. Higher sales prices in the Austin area yielded a 15% increase in total dollar sales volume for the market. It looks like August has continued the trend of increased home prices that we’ve seen throughout 2015. Take a look at the latest stats from the Austin Board of Realtors:

August 2015 Austin Area Market Statistics

  • 2,943 single-family homes sold last August, or 8% more than August 2014
  • 8% increase in the median price of a home in August 2014 to $265,000 in August 2015
  • Homes spent 42 days on the market on average, unchanged since August 2014
  • $970,071,600 total dollar sales volume in August 2015, which is 15% more than last year
  • 2.9 months of inventory last August, or 0.1 months less than August 2014
  • 2% increase in new home listings since last year to 3,364 in August 2015
  • 4% more active listings in August 2015 than August 2014 at 6,979 listings
  • 2,686 pending sales last August, which an 11% increase since August 2014

If you’re thinking about buying a home in the Austin area, don’t let rising prices discourage you! With over 6,000 active listings on the market, the perfect home for you is out there waiting to be found. Working with an experienced Realtor is the key to securing your dream home at the right price. Our agents know the Austin area inside and out, and with over 1,800 neighborhoods in our Austin Neighborhood Guide, we can help you discover homes in communities you may not have heard of before. For sellers, the right time to sell is now! With just 2.9 months of inventory available, it’s the perfect time to list your home. You may find yourself in a multiple offer situation, and that’s why we encourage you to list your home with an agent with strong negotiation skills. This agent can help you sort through multiple offers and negotiate a contract in your favor. Whether you’re buying or selling a home, navigating the Austin market can be tough. Our agents have all the skills you need on your side to accomplish a successful transaction. Contact us today with your questions about Austin real estate.

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