Press Releases: 2011
Austin-area Home Sales Volume Outpaces 2010 for Six Consecutive MonthsAustin Board of REALTORS® Releases November 2011 Real Estate Statistics
December 20, 2011 – According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®, 1,358 single-family homes were sold in the Austin area in November 2011, which is 11 percent more than November 2010. During the same time period, the median price for Austin-area homes was $189,300, three percent more than the same month of the prior year.
Townhouses & CondominiumsThe volume of townhouses and condominiums (condos) purchased in the Austin area in November 2011 was 123, which is 21 percent more than November 2010. In the same time period, the median price for condos was $157,500, one percent more than November 2010. When compared to the same month of the prior year, these properties spent 12 percent longer on the market, or an average of 114 days.
LeasingIn November 2011, 998 properties were leased in Austin, which is nine percent less than November 2010. The median price for Austin-area leases was $1,250, four percent higher than the same month of the prior year.
* The inventory of homes for a market can be measured in months, which is defined as the number of active listings divided by the average sales per month of the prior 12 months. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.
November 2011 Statistics
The Austin Board of REALTORS® is a non-profit, voluntary organization representing more than 8,500 licensed REALTORS® in Central Texas. Visit AustinHomeSearch.com, a public resource on Austin real estate, for the latest news on the local housing market. For more information, please contact Angela Brutsché at 512-454-7636.