According to data released Monday by the Austin Board of Realtors, 2,997 single family homes sold in June, the most ever in that month and the second-highest month since records have been kept. The number also reflects a 13 percent increase over June 2013 sales. “The 2014 summer selling season in Austin was expected to be strong, and June 2014’s home sales activity did not disappoint,” said Bill Evans, president of ABOR. One factor that helped elevate home sales was increased inventory. With 6,246 active listings in the region, it’s the most inventory since August 2013.
“For the first half of 2014, the shortage in Austin area housing supply prevented the market from being able to grow,” said Madison Inselmann, regional director of Metrostudy. But with homebuilders delivering dozens of new communities, the overall market is loosening up a bit. “[This year] could very well turn out to be another best year ever for Austin area home sales, but it’s important that Austin continue to replenish and expand its housing stock so these strong figures can continue,” Evans added.
Here’s a look at other highlights of the report:
• $252,520 – median price for single family house, 7 percent higher than June 2013.
• $209,000 – median price for a condo or townhouse, 8 percent higher than last year.
• $326,998 – average price for single family house, 8 percent higher than last year.
• 308 – number of condos and townhouses that sold, 1 percent less than last year.
• 39 – average number of days single family houses stayed on the market, four days fewer than last year.
• 31 – average number of days condos or townhouses stayed on the market, 10 days fewer than last year.
• 2,797 – pending home sales for single family houses, 1 percent fewer than a year ago.
• 1,712 – single family and condo/townhouse properties for lease on the multiple listing service, 14 percent more than a year ago.
• $1,500 – median monthly lease rate, 3 percent higher than a year ago.