Austin, Texas (PRWEB) March 26, 2014
Austin-area home sales and home prices hit an all-time high in February, according to the Multiple Listing Service report released today by the Austin Board of REALTORS®. In February 2014, 1,761 single-family homes were sold in the Austin area, which is nine percent more than one year prior, and the median price for Austin-area homes was $230,530, an 11 percent gain from February 2013.
Steve Turnquist, Broker of Turnquist Partners Realtors, Inc. had this to say on the rising values of home sales in the Austin area, “With Austin’s strong seller’s market and steady flow of residents moving to the greater Austin, area the trend of rising home values will continue through 2014.” With Recent reports showing that Austin new builds are at six year high which could be a sign of helping to ease the issue.
President of Turnquist Partners, Inc. Kathryn Scarborough went on to say, “With inventory near all-time lows, businesses and individuals are moving to the area due to Austin’s favorable business climate.” Kathryn adds “It would be helpful if the City of Austin streamlined the process of permitting new housing developments in order to help alleviate the low inventory.” Homes have reached peak values in Austin and listings are spending only 55 days on market which is 16 fewer than in 2013.
Below are the highlights of the Austin Board of REALTORS® Report:
Info Graphic and Stats Courtesy of Austin Board of REALTORS®