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Austin Home Sales top $1 billion for the first time

July 21, 2015

Posted in: Real Estate

Austin home sales volume topped $1 billion in the month of June — the highest collective amount ever recorded.

“(It) shows the amazing equity Austin homeowners have in the market and the powerful impact of real estate in Central Texas,” said Barb Cooper, the 2015 president of the Austin Board of Realtors, which compiles monthly sales data.

Also, for the first time in two years, the number of sales topped 3,000.

The 3,051 recorded transactions is more than a 10 percent increase from May.

The median home price in June stands at $272,250, 8 percent higher than June 2014. The average sales price is $333,866, 2 percent higher than a year ago. The average price dropped, however, compared to May when it was $348,201.

Cooper said at this rate, 2015 could be a record year for home sales. Even so, Cooper said ABOR is actively discussing solutions to the affordability challenges facing Austinites. Representatives from ABOR recently met with the Austin City Council and Mayor Steve Adler to brainstorm ways to provide suitable housing for all income brackets.

“We’re please to see the steps city leaders are taking toward a more affordable Austin,” Cooper said.

Read more on Austin Business Journal

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