January 2008 Market Report: Central Texas Housing Market Report Shows Continued Rise in Home Prices

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According to the latest Multiple Listing Service (MLS) report, the median sales price for homes in Central Texas grew 7 percent in January. Single-family home sales were lower than during the same period in 2007.

“The Austin economy is strong and Central Texas consumers are financially prepared for a housing investment,” said ABoR Chairman Socar Chatmon-Thomas. “Some consumers may be attempting to market-time their purchase, which temporarily delays property transactions. Even so, the Austin real estate market continues to outpace most others nation-wide.”

January 2008 single-family home sales totaled 1,321, a 10 percent decrease from last year. The median price of single-family properties rose 7 percent to $187,000.

Altogether, single-family property sales contributed $324,748,035 to the local economy last month, a decrease of 9 percent from the previous year. These properties sat on the market for an average of 83 days. The number of active listings in January was 8,727.

January 2008 Single-Family Homes

  • 1,321 was the number of single-family homes sold, a 10 percent decrease from one year ago
  • $187,000 was the median price for single-family homes, an 7 percent increase from one year ago
  • $324,748,035 was the total dollar volume of properties sold, an 9 percent decrease from one year ago
 

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