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Austin Real Estate News---------------------------------------------------------Austin Home Sales Hit Record High In FebruaryAustin-area home sales and home prices hit an all-time high in February, according to the Multiple Listing Service (MLS) report released March 20, 2014, by the Austin Board of REALTORS. In February 2014, 1,761 single-family homes were sold in the Austin area, which is nine percent more than one year prior. The median price forAustin-area homes was $230,530, an 11 percent gain from February 2013.

Bill Evans, 2014 President of the Austin Board of REALTORS, explained, The Austin-area housing market continues to be strong and home buyers remain aggressive. Sales are increasing year-over-year and rising home starts have begun to offset Austins shrinking housing inventory. These factors taken together make it look like we will have a great real estate year in 2014.

Austin-area homes also continued to sell at an accelerated rate, spending an average of 55 days on the market in February 2014 and 16 days fewer than in 2013. As Austin-area inventory remained unchanged and new and active listings decreased, home prices continued to rise. Average price also saw a double-digit increase, increasing 12 percent from February 2013 to $293,746.

Evans concluded, Austin needs to be aggressive in the promotion of housing development policies that contribute to a consistent, healthy increase of housing stock for all members of our community. Home starts are strong and the outlook for Austin-area home sales continues to be positive, and we need to provide safe, affordable housing options quickly in order to keep up with Austins continuing demand.

February 2014 Statistics1,761 Single-family homes sold, nine percent more than February 2013.$230,530 Median price for single-family homes, 11 percent more than February 2013.$293,746 Average price for single-family homes, 12 percent more than February 2013.55 Average number of days single-family homes spent on the market, 16 days fewer than February 2013.2,544 New single-family home listings on the market, one percent fewer than February 2013.4,724 Active single-family home listings on the market, eight percent fewer than February 2013.2,118 Pending sales for single-family homes, five percent fewer than February 2013.2.0 Months of inventory* of single-family homes, 0.6 months less than February 2013.$517,286,706 Total dollar volume of single-family properties sold, 21 percent more than February 2013.

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