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“Despite economic conditions across the nation, Austin continues to have a relatively low unemployment rate and cost of living index,” said ABoR Chairman Socar Chatmon-Thomas. “While we’re not enjoying the booming real estate markets of 2006 and 2007, we have seen steady increases in sales volume since January 2008.”
Single-family home sales in May 2008 reached their highest point in eight months, totaling 2,154 and contributing $566,827,254 to the local economy. The median price for single-family properties was $196,120 while active listings increased to 10,577. Homes sold in May 2008 also fell, averaging a total of 64 days on the market.
May 2008 Single-Family Homes
- 2,154 was the number of single-family homes sold, a 20 percent decrease as compared to May 2007
- $196,120 was the median price for single-family homes, a seven percent increase from May 2007
- $566,827,254 was the total dollar volume of properties sold, a 16 percent decrease from May 2007.