AUSTIN – Although the local housing market is calming, the Texas Capital still remains a top market in the U.S.
According to the Austin Board 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.
The Texas Real Estate Research Center has more news like this online for free: