November 2006 Market Report: Austin Home Sales Show Steady Growth

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The latest Multiple Listing Service (MLS) report from the Austin Board of REALTORS® indicates that the Austin real estate market remained steady in November with record numbers posted in single family home sales and commercial sales.

Single family home sales increased 6 percent from one year ago to 1,902, a record for the month. The median price for single family homes was $175,000, a 3 percent increase from last November and a record for the month. The $454,953,216 these sales contributed to the local economy reflects a 12 percent increase from last year.

Active listings increased by 3 percent from last November to 7,354, while new listings decreased by three percent to 2,340. November homes spent an average of 68 days on the market, reflecting no change from one year ago.

"These numbers support reports that Austin is one of the top-10 fastest growing cities in the nation," said ABoR Chairman Charles Porter. "I'm particularly excited about November's numbers. Local growth benefits everyone in the community."

Commercial sales and leases also posted notable numbers this month. Commercial sales increased by 33 percent to 28 units sold, a record for the month. The median price was $340,000, a 104 percent increase from last year, adding $11,581,444 to the local economy, up 104 percent from last November.

November 2006 Single Family Homes

  • 1,902 was the number of single family homes sold, an increase of 6 percent and a record for the month
  • $175,000 was the median price for single family homes, up 3 percent from last November and a record for the month
  • $454,953,216 was the total dollar volume of properties sold, a 12 percent increase from a year ago
 

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