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Austin housing market calms in August

​AUSTIN – Although the local housing market is calming, the Texas Capital still remains a top market in the U.S. 

According to the Austin Boa​rd of Realtors, home sales in August declined 4.6 percent year over year to 3,849. 

The median sales price increased 34.7 percent to $470,000, an all-time high for the month of August. Sales dollar volume increased 18.7 percent to $2.2 million. 

Monthly housing inventory fell to one month. The Texas Real Estate Research Center considers six to 6.5 months of inventory a balanced market.

Last month, new listings increased 14.1 percent to 4,409; active listings declined 19.1 percent to 3,380; and pending sales decreased 8.6 percent to 3,970.

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