June 2008 Market Report: Continued Rise in Central Texas Home Sales

Both single-family home sales and leased property in Central Texas have reached their highest point this year to date, according to the June Austin Board of REALTORS® Multiple Listing Service (MLS) Report.

“Austin remains one of the best cities to become a homeowner,” said ABoR Chairman Socar Chatmon-Thomas. “Locally, our homes are holding their value and the average mortgage payment is not much higher than renting.”

Last month 2,211 single-family homes were sold, with their median price rising four percent to $200,000. These homes spent an average of 65 days on the market and contributed $577,471,191 to the economy. There were 10,886 active listings in June.

Leased property rose two percent since last year to total 1,146. With a median price of $1,250, these properties contributed $1,541,370 to the Austin-area economy, a nine percent increase from June 2007.

June 2008 Single-Family Homes

• 2,211 was the number of single-family homes sold, a 20 percent decrease from one year ago
• $200,000 was the median price for single-family homes, a four percent increase from June 2007
• $577,471,191 was the total dollar volume of properties sold, a 20 percent decrease from last year