Homes Sales Volume, Median Price Consistent From Year-to-Year

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View the Greater Austin Area Overall Real Estate Market Report

According to the Multiple Listing Service (MLS) report released by the Austin Board of REALTORS®, 1,112 single-family homes were sold in the Austin area in February 2011, a figure that is statistically unchanged from February 2010.

In the same time period, the median price for single-family homes in Austin was $193,000, up two percent from February 2010, and homes spent an average of 98 days on the market, 27 percent longer than February 2010. In addition, new listings were down 24 percent in February 2011 compared to February 2010 and active listings were down eight percent.

“In terms of home sales volume, February 2011 looks much like this month last year. However, there are a few key differences,” said Judith Bundschuh, Chairman of the Austin Board of REALTORS®.

Chairman Bundschuh continued, “Fewer homes were on or entering the market in February. This could mean buyers may encounter more competition for properties heading into the summer selling season. At the same time, increases in the days on market means sellers should prepare to be patient if they want to earn full value for their properties.”

Austin Texas MLS Areas Report (2/11)

Austin Texas Regions Market Report (2/11)