October 2015 Austin Market Report

Posted on Thursday, November 19th, 2015 at 3:36pm.

October 2015 Austin Market Report

Temperatures may be cooling down in Austin, but the real estate market keeps heating up! According to the latest numbers from the Austin Board of Realtors, the 2% increase in home sales marks the fifth consecutive month of increased sales in the Austin area. The median price of an Austin home also increased last month to $252,790, which yielded a 10% increase in total dollar sales volume for the month of October. Although the market typically slows down during the fall months, the Austin market stayed active with increases in active and new listings, as well as pending sales. October was a great month for Austin real estate! Take a look at the latest numbers from the Austin Board of Realtors for October:

October 2015 Austin Area Market Statistics

  • 2,378 single-family homes sold in October 2015, or 2% more than October 2014
  • 5% increase in the median price of a home from the previous year to $252,790
  • 10% rise in total dollar volume of single-family homes sold to equal $792,948,856 in 2015
  • Homes spent an average of 50 days on the market this October, which is 1 day less than 2014
  • 2.6 months of inventory available in October 2015, or 0.1 months less than the previous year
  • 3% more active listings than 2014 with 6,342 listings in 2015
  • 2,847 new listings for October 2015, which is unchanged from October 2014
  • 4% more pending sales in October 2015 for a total of 2,339

With numbers like these, it looks like the Austin market is on track towards another record-setting year. Austin was also recently named the second most stable market in the country in a report by Freddie Mac, which is great news for area buyers and sellers. If you’re thinking about buying an Austin home, don’t be discouraged by high prices. New homes hit the Austin market every day in all price ranges. The key is to work with an experienced agent with expert knowledge of Austin neighborhoods who can help you find the perfect home. Sellers, just 2.6 months of inventory means demand for Austin homes is high. It’s a great time to list your home with a talented agent who can help you field multiple offers and get the most out of your home sale. If you have any questions about buying or selling a home in Austin, contact us today!

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