With the official start of summer comes a new report from the Austin Board of Realtors (ABoR) that outlines the state of our increasingly hot Austin housing market.
Released on June 21st, ABoR’s May 2016 report compared single-family home statistics year-over-year across Central Texas counties. In the Austin area, the median price for single-family homes increased 5 percent to $288,085, and over 2,900 homes were sold, a 10 percent increase from May 2015. In Austin proper, the median home price is now a whopping $355,000.
One of the more shocking statistics is the 21 percent increase in pending sales (3,297 total) for home listings on the market in Austin. Double-digit gains in pending sales were also consistent across the 18-county Central Texas