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Press Releases: 2007

BOOST IN AUSTIN REAL ESTATE MARKET FOR APRIL

May 17, 2007 - Though a continued slump in home sales throughout the nation persists, Austin has maintained its strong level of sales. According to a report from the Austin Board of REALTORS®, April experienced a refreshing burst in number of homes sold.

Single-family home sales, which totaled 2,313, increased a total of six percent in April. The total aggregate sales for the month contributed $578,846,754 to the local economy, a 14 percent jump from numbers in 2006. Single-family home sales also earned a median price of $185,000, reflecting a six percent increase from last year. The Austin area median price remains affordable compared to the national median price, which, according to the National Association of REALTORS®, averaged $212,300 in the first quarter.

Townhouse and condominium sales continue to be an Austin-area real estate strong point, pulling in $49,615,118 for the local economy, nine percent more than in 2006. The 266 townhouse/condominium properties sold represent a two percent increase in sales from one year ago.

April 2007-Single-family Homes

• 2,313 homes sold, up six percent from last April
• $185,000 was the median price, a six percent increase from 2006
• $578,846,754 was the total dollar volume of properties sold, a 14 percent increase from a year ago

The Austin Board of REALTORS® is a non-profit, voluntary organization representing more than 8,500 licensed REALTORS® in Central Texas. For further information, contact Angela Brutsché at 512/454-7636 ext. 1300.