AUSTIN, Texas – March 20, 2015 – Austin-area single-family home sales and home prices hit an all-time high for the month of February according to the February 2015 Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®.
According to the MLS, 1,775 single-family homes were sold in the Austin area in February 2015, a year-over-year increase of five percent and the highest number of homes sold for the month of February. In February 2015, 69 percent of single-family homes sold in the Austin area were priced $200,000 or higher.
Home prices also set new records for the month of February. The median price for Austin-area homes in February increased eight percent year-over-year to $248,640 and the average price rose five percent to $307,928 during the same time period. Pending home sales in the Austin area increased eight percent to 2,278 sales.
Austin-area monthly housing inventory ended February 2015 at 2.2 months about two thirds less than 6.5 months inventory level which is considered a balanced market.
In summary, the Austin real estate market should continue to remain strong through 2015.
If you would like more information concerning buying, selling or investing in Austin, Cedar Park, Leander, Pflugerville, Round Rock, Lago Vista, Hutto, Manor, Lakeway and other areas throughout Travis and Williamson counties, call Premiere Team Real Estate at 512-794-9914 or visit www.premiereteam.com