January 2007 Market Report: January Property Sales Show Continued 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 continues to rise, with growing sales in single-family, townhouse and condominium properties.

The 1,452 single-family homes sold for the month contributed $352,426,536 to the local economy, reflecting a 1 percent increase in aggregate monthly revenue from last year. Outperforming the previous year by 5 percent, the median price for single-family homes was $175,000, creating a record for the month.

January homes spent an average of 76 days on the market, reflecting a 1 percent decrease from one year ago. Additionally, new listings decreased by 13 percent to 2,746.

Other property types also reported significant numbers in January. Townhouse and condominium sales rose this month to 159 units, a 21 percent increase from last year. These sales contributed $30,802,434 to the local economy, a 26 percent jump from one year ago.

The Austin metropolis continues to see strong growth, as homes in Burnet/Llano averaged 75 days on the market, an impressive 107 day decrease from last January. Moreover, Pflugerville saw a rise in sales, finishing January with 103 homes sold, 37 more than in 2006.

January 2007 Single-family Homes

  • 1,452 was the number of single-family homes sold
  • $175,000 was the median price for single-family homes, up 5 percent from last January and a record for the month
  • $352,426,536 was the total dollar volume of properties sold, a 1 percent increase from a year ago

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