February 2016 Housing Statistics For The Austin Area

Dated: 04/07/2016

Views: 529

Austin, Texas –March 21, 2016– According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®, Austin-area single-family home sales increased by 2.9 percent to 1,783 home sales in February 2016 compared to the same month the year prior. Median single-family home price also increased 8.0 percent year-over-year, reaching $269,900 in February 2016.


As the market remains competitive, Austin-area monthly housing inventory was 2.1 months in February 2016, an increase of 0.1 months from February 2015. This figure is still well below the 6.5 month level the Real Estate Center at Texas A&M University estimates as a balanced housing market. Homes spent 62 days on market in February 2016, three days more than the year prior.

New listings increased by 11.1 percent to 2,793 listings in February 2016 and active listings increased by 10 percent year-over-year reaching 4,871 listings. Additionally, pending sales increased by 12.3 percent at 2,346 sales.


February 2016 Statistics

  • 1,783 – Single-family homes sold, 2.9 percent more than February 2015.

  • $269,900 – Median price for single-family homes, 8.0 percent more than February 2015.

  • $333,011 – Average price for single-family homes, 7.6 percent more than February 2015.

  • 62 – Average number of days single-family homes spent on the market, three days more than February 2015.

  • 2,793 – New single-family home listings on the market, 11.1 percent more than February 2015.

  • 4,871 – Active single-family home listings on the market, 10 percent more than February 2015.

  • 2,346 – Pending sales for single-family homes, 12.3 percent more than February 2015.

  • 2.1 – Months of inventory* of single-family homes, 0.1 months more than February 2015.

  • $593,758,953– Total dollar volume of single-family properties sold, 10.7 percent more than February 2015.


http://www.abor.com/statsfeb16/

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Danny Crow

As a real estate agent since 2000, I enjoy helping others discover Central Texas and make a home here. Real estate in Austin offers many options to home buyers and I will make sure you explore every o....

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