July 2006 Market Report: Austin Remains Hot, while National Market Cools

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July home sales set a record for the fourth consecutive year, according to the latest Multiple Listing Service (MLS) report from the Austin Board of REALTORS®. The Austin area continues to display uncommon vibrancy, despite a national housing market that appears to be slowing down. According to a National Association of REALTORS®.' report, nationwide home sales fell 7 percent in the second quarter of 2006.

In July 2006, a record 2,721 single-family properties were sold, an increase of 11 percent from July 2005. These sales also broke July records for median price and aggregate revenue, earning a median price of $178,190, up 5 percent from last year, and collectively contributing $667,537,488 to the local economy, which is 21 percent more than they did one year ago. While sales increased, the number of active listings decreased, by 6 percent, to 8,368.

So far in 2006, 15,778 single-family properties have sold, collecting $3,730,487,936 in aggregate revenue. Those numbers, both records for the first seven months of a year, represent increases of 13 percent and 26 percent, respectively.

July 2006 Single Family Homes

  • 2,721 homes sold, a 11 percent increase from 1 year ago and a July record
  • $178,190 was the median price, and that increased 5 percent
  • $667,537,488 was the total dollar volume of properties sold, an increase of 21 percent and a July record
 

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