June 2006 Market Report: Records Set for June and Midyear Home Sales

Halfway through 2006, figures indicate that this could be another record-setting year for the Austin-area housing market. According to the latest Multiple Listing Service (MLS) Report from the Austin Board of REALTORS®, more homes were sold in the first two quarters of 2006 than during the first six months of any previous year.

From January to June 2006, a record 13,073 single-family homes were sold in Austin-a 13 percent increase over the same period in 2005. Helping to drive that number, single-family home sales in June jumped 21 percent to 2,980-the highest total of any month in 2006.

Single-family properties sold at a record median price of $182,000 in June-up 8 percent from 2005-exceeding the midyear median price of $172,480, which also rose 8 percent. Outperforming the previous year by 36 percent, the $732,051,900 June's single-family home sales generated pushed the midyear revenue total to $3,073,044,373, the largest amount ever collected during the first two quarters of a year.

Homes sold during the first two quarters were on the market for an average of 63 days before selling, compared to 74 days during the same period one year ago. At 56 days on the market, homes sold in June posted the lowest waiting period for any month this year and fell 13 percent from June 2005.

June 2006 (Monthly Totals) Single Family Homes

• 2,980 homes sold, a 21 percent increase from 1 year ago and a June record
• $182,000 was the median price, and that increased 8 percent and set a June record
• $732,051,900 was the total dollar volume of properties sold, an increase of 36 percent and a June record

June 2006 (Year-to-Date Totals) Single Family Homes

• 13,073 homes sold, a 13 percent increase from 1 year ago and a record
• $172,480 was the median price, and that increased 8 percent and set a record
• $3,073,044,373 was the total dollar volume of properties sold, an increase of 27 percent and a record