School is back in session, and there are tons of fun events coming up as the weather cools down (see the bottom of this post for exact details) In the real estate world, Austin’s summer selling season has been extremely active. Austin continues to see rising home sales while home sales volumes set a record for the month of July.
The Austin Board of Realtors recently released their real estate market statistics, which show July 2015 home sales price increasing. The median price for Austin-area homes increased 8 year-over-year to $269,500. The average price rose 6 to $338,452. Affordability continues to be a concern with less than 30 of homes sold in the Austin area priced below $200,000.
“As more people move to the Austin area, demand is outpacing our supply of homes,” said Seth Thompson, Broker and Sales Director at HomeCity Real Estate. “High volumes of homes continue to sell – and quickly Austin’s housing market should remain the same as long as the job market remains stable, and it shows no signs of slowing down.”
3,149 single family homes sold in July, which is 12 more than this time last year. As we mentioned, this is a new all-time high for July in Austin. Housing inventory ended July at three months, relatively unchanged compared to July 2014.
“Inventory is slowly increasing, but still well below 6.5 months inventory that is considered a balanced market,” said Thompson.
Homes spent an average of 41 days on the market, two days more than July 2014. The total dollar volume of single-family homes checked in at a whopping $1,065,785,348 this past July, which is 19 more than July of 2014.
In a market as hot as ours, it’s still crucial to educate yourself on market trends and home values. Don’t forget that registered users can see sold home price data on homecity.com
July 2015 Quick Stats:
3,051 – single-family homes sold
$272,250 - median price for single-family homes
$333,866 – average price for single-family homes
42 - average number of days single-family homes spent on the market
2.8 months of inventory of single-family homes
$1,018,625,166 – total dollar volume of single-family properties sold
Austin September Events:
- City-Wide Garage Sale @ The Palmer Events Center: A great place to get vintage furniture, clothing, trinkets, and all sorts of thrifty things. Next show is September 5 – 6t1
- Austin Music Video Festival: Held September 16 – 19th, This festival brings over 200 videos, 13 awards, parties, panels, workshops and more Music videos featured include Spoon, The Black Angels, Shakey Graves, Gary Clark Jr., Quiet Company, Holiday Mountain, and more
- Fantastic Fest Film Festival: Held Sept 24 – Oct1 at various venues around Austin, this fest is the largest genre film festival in the US, specializing in horror, fantasy, sci-fi, action and more
- Texas Craft Brewers Festival: A festival held for brewers, by brewers that features the best of Texas craft beers around
- Pecan Street Festival: This free festival is one of the largest and longest-running arts/crafts and music festivals in the nation, and takes place in downtown Austin.