July 2007 Market Report: Steady Home Sales for Austin Area

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The Central Texas market remains healthy, according to the most recent Multiple Listing Service (MLS) report from the Austin Board of REALTORS®.

At 2,645, the number of single family homes sold in July 2007 fell just two percent from one year ago. These sales contributed $683,716,630 to the local economy, an increase of four percent from July 2006 and a record for the month. The median price for single family homes increased seven percent from last July to a record $190,000.

In Austin, single family homes sat on the market for an average of 55 days, down seven percent from one year ago. Active listings increased by 13 percent from July 2006 to 9,451, while new listings fell by two percent from one year ago to 3,670.

Townhouse and condominium sales continued to exhibit significant growth, with July's 333 sales representing a 17 percent increase from one year ago. The median price for townhouses and condominiums rose 36 percent from last July to $180,000 and sales of these properties contributed $68,256,009 to the local economy, up 38 percent from July 2006.

July 2007 Single Family Homes

  • 2,645 was the number of homes sold, down two percent from one year ago
  • $190,000 was the median price for single family homes, a seven percent increase from July 2006 and a record for the month
  • $683,716,630 was the total dollar volume of properties sold, a four percent increase from one year ago and the highest total dollar volume on record for July
 

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