April 2005 Market Report: April Report Shows Strong Home Sales, Decreased Inventory

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May 25, 2005 - Austin-area home sales rose in April, according to the Austin Board of REALTORS®' Multiple Listing Service (MLS) Report.

April figures showed 2,050 single-family homes sold, a nine percent increase over the previous year. In April, the median and average prices of single family homes both grew five percent -- the median to $162,000 and the average to $208,314. Active listings fell by 10 percent to 8,880, and new listings decreased by 14 percent to 3,738.

Townhouse/condominium sales totaled 203, a 24 percent jump from 2004. These homes sold for an average price of $147,412; the median price was $132,500. New and active condo listings fell by six and 13 percent to 333 and 900, respectively. Farm/ranch sales increased 10 percent, though they sat on the market 52 percent longer at 147 days.

The Austin Board of REALTORS® is a non-profit, voluntary organization representing more than 7,000 licensed REALTORS® in Central Texas. For further information, contact Angela Brutsché at 512/454-7636 ext. 1300.

 

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