Austin area home sales volume up 14 percent in January compared to 2010

Feb. 21, 2011 - PRLog -- AUSTIN, Texas – Sales of single-family Austin homes were 14 percent higher in January 2011 than January 2010 with 975 homes sold, according to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®.  

In the same time period, the median price of Austin real estate was $190,000, up six percent from January 2010; and Austin homes spent an average of 93 days on the market, 11 percent longer than January 2010. In addition, new listings were down 14 percent in January 2011 compared to January 2010 and active listings were down five percent, indicating a decreasing inventory of homes.

“The latest figures show that we are seeing the economic recovery continue in Austin,” said Judith Bundschuh, Chairman of the Austin Board of REALTORS®.

Chairman Bundschuh continued, “Looking at these results, sellers should be encouraged that demand and prices are strong, but they should expect to be patient to achieve full value. Buyers should know that fewer listings combined with increased demand could mean they will encounter more competition for properties.”

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The Austin Board of REALTORS® is a non-profit, voluntary organization representing more than 8,500 licensed REALTORS® in Central Texas. Visit AustinHomeSearch.com, a public resource on Austin real estate, for the latest news on the local housing market. For more information, please contact Angela Brutsché at 512-454-7636.