June 2007 Market Report: June Home Sales Show Slight Decline

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The latest Multiple Listing Service (MLS) report from the Austin Board of REALTORS® shows that June home sales fell slightly, marking the first decrease for the month since 2002.

June saw 2,800 single-family home sales, representing the second highest home sales ever recorded for the month of June and a 6 percent decline compared to a year ago. The median price for home sales in June grew 7 percent to $191,050. Altogether, single-family home sales contributed $727,843,200 to the local economy.

The 9,159 active single-family listings in the MLS represent an 8 percent increase from 2006. At an average of 53 days, the amount of time these listings sat on the market decreased by 7 percent.

"Austin has experienced record-breaking growth in home sales for the past four years," said ABoR Chairman Charles Porter. "This year, we may see a slight decline in year end residential sales. Overall, the Central Texas housing market has been resilient and continues to be one of the best investments money can buy."

June 2007 Single Family Homes

  • 2,800 homes sold, a 6 percent decrease from one year ago and the second highest home sales recorded for the month of June
  • $191,050 was the median price, a 7 percent increase from one year ago
  • $727,843,200 was the total dollar volume of properties sold, a one percent increase from 2006
 

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