October 2005 Market Report: Austin Housing Market Breaks Record in October

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November 22, 2005 - The Austin-area housing market reached record-setting highs in October, according to the latest Multiple Listing Service (MLS) report from the Austin Board of REALTORS®. The 1,999 single family homes sold represent both a 27 percent increase from last year and an October sales record. At 67 days on the market, homes sat for 13 percent less time than they had in October 2004. Selling at a median price of $160,650, single family properties collectively contributed $421,073,358 to the local economy, 31 percent more than they had during the same period in 2004. The number of active listings decreased 17 percent to 7,654. Single family units were not the only property type to experience a sales boost last month. Townhouse/condominium sales also improved, jumping 73 percent to 221. These sales generated $35,457,019 in total dollar volume, up 71 percent from 2004.

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.

 

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