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Press Releases: 2005

REAL ESTATE MARKET HEALTHY IN SEPTEMBER

October 25, 2005 - In September, Austin-area properties of all types outsold the previous year. According to the latest Multiple Listing Service (MLS) report from the Austin Board of REALTORS®, the local market remained fertile last month. Single family home sales totaled 2,391, a 34 percent increase from 2004. Their aggregate contribution of $511,776,813 to the local economy represents a 39 percent bump from the previous year. At $162,000, the median price at which these properties sold remained relatively unchanged.

While sales increased, the number of new and active single-family listings on the market notably decreased. At 2,630, the number of new listings dropped 19 percent from 2004, while active listings fell 18 percent to 7,835. These properties sat for four percent less time than they did one year ago, averaging 68 days on the market.

Single family units were not the only property type to experience a sales boom. Townhouse/condominium sales were up 61 percent in September, totaling 220. These sales added $33,771,980 to the local economy, an increase of 47 percent.

The Austin Board of REALTORS® is a non-profit, voluntary organization representing more than 6,500 licensed REALTORS® in Central Texas. For further information, contact Angela Brutsché at 512/454-7636 ext. 1300.