Austin, TX Home Prices Set Record in September and Home Sales Increase After Two Month Slide

News provided by

Turnquist Real Estate Partners

Oct 23, 2014, 18:00 ET

Austin, TX (PRWEB) October 23, 2014 -- Median price for Austin-area single-family homes increased eight percent year-over-year to $240,000 and average price rose seven percent year-over-year to $308,514 in September 2014. These are the highest figures recorded for both median and average price for the month of September.

Michele Turnquist, Owner of Turnquist Partners Realtors, Inc., said, “September’s numbers are a sign of the continued growth of the Austin economy and population boom. The dip we saw in home sales over the past couple of months do bring up the concern of housing affordability, but with record setting home sale numbers throughout the summer the trend was bound to decline some and now we are seeing the numbers even out.”

While Austin-area homes continue to sell quickly, the average number of days single-family homes spent on the market remained unchanged from September 2013 at 44 days. This is the first time that the average number of days spent on the market remained statistically unchanged year-over-year since September 2011.v In September 2014, active listings increased eight percent year-over-year to 6,469 listings and new listings rose four percent during the same time frame to 2,586 listings. Continued gains in single-family home listings over the last few months are having a positive effect on pending sales, which jumped 11 percent year-over-year in September 2014 to 2,201 pending single-family home sales.

September 2014 Statistics

  • 2,524 – Single-family homes sold, 10 percent more than September 2013.
  • $240,000 – Median price for single-family homes, eight percent more than September 2013.
  • $308,514 – Average price for single-family homes, seven percent more than September 2013.
  • 44 – Average number of days single-family homes spent on the market, unchanged from September 2013.
  • 2,586 – New single-family home listings on the market, four percent more than September 2013.
  • 6,469 – Active single-family home listings on the market, eight percent more than September 2013.
  • 2,201 – Pending sales for single-family homes, 11 percent more than September 2013.
  • 2.8 – Months of inventory* of single-family homes, 0.1 months more than September 2013.
  • $778,689,336 – Total dollar volume of single-family properties sold, 18 percent more than September 2013.

For more information on the Austin, Houston, and Texas real estate market contact Turnquist Partners Realtors, Inc. a locally run real estate firm with over 25 years’ experience in the Texas market. http://www.turnquistpartners.com or by phone at 512.328.3939

Statistical information and graphs courtesy of Austin Board of REALTORS®

Barrett Tilson, Turnquist Real Estate Partners, http://www.turnquistpartners.com, +1 (512) 328-3939, [email protected]