March 2008 Market Report: Report Indicates Higher Yet Healthy Central Texas Housing Inventory

The median sales price for homes in Central Texas grew 5 percent in March, according to the latest Multiple Listing Service (MLS) report. Single-family home sales for the month were 1,832, while active listings grew to 9,638.

“The number of active listings available in Central Texas represents approximately five months of housing inventory, which economists agree is present in a healthy market,” said ABoR Chairman Socar Chatmon-Thomas. “Nationally, the number of homes in supply has remained close to 10 months.”

In March 2008, the median price of single-family properties was $186,680. Altogether, singlefamily property sales contributed $434,647,496 to the local economy last month. These properties sat on the market for an average of 73 days.

March 2008 Single-Family Homes

• 1,832 was the number of single-family homes sold, a 21 percent decrease from one year ago
• $186,680 was the median price for single-family homes, an 5 percent increase from March 2007
• $434,647,496 was the total dollar volume of properties sold, an 23 percent decrease from last year