Austin-area home sales set records for the month of December, annual home sales volume in 2014

After 2014 was said and done, Central Texas had the most home sales ever for one calendar year, and the 4th straight year of annual home sales increases. There are a total of 27,768 single-family homes sold in 2014, a 2% increase from 2013. In addition, the median price for homes in 2014 increased 8% year-over-year to $242,000.

“The Austin area experienced a strong, stable housing market in 2014, with year-end 2014 showing similar market conditions to those one year ago,” 2015 ABoR President Barb Cooper said. “Last month, the U.S. Census Bureau named Austin the third-fastest growing big city in America since 2000. That steady job and population growth has continued to drive increases in home sales volume and, combined with low housing inventory levels, home prices as well.”

The month of December was no slouch, either, with home sales setting a record for the month with 2,283 single-family homes sold – a 14% increase from December 2013. As Cooper alludes to above, the high increase in homes sold in December is likely due to the steady increase in jobs, and the people moving to Central Texas to fill those jobs.

“The Austin-area housing market is consistent, but so are its challenges,” Copper said. More homes on the market, at all price ranges and throughout all areas of Austin, will be crucial to maintaining Austin’s affordability in 2015. As one of the fastest growing metropolitan areas in the U.S. we must look to our new city council for a regulatory environment that stimulates and grows housing stock in a healthy, sustainable way.”

With a housing inventory of just 2.2 months, there is an ongoing issue of how this low housing stock will impact affordability in the area.

How did the rest of the December and year-end statistics look?

December 2014 Statistics

  • 2,283 – Single-family homes sold, 14 percent more than December 2013.
  • $246,530 – Median price for single-family homes, 10 percent more than December 2013.
  • $311,082 – Average price for single-family homes, six percent more than December 2013.
  • 55 – Average number of days single-family homes spent on the market, three days more than December 2013.
  • 1,546 – New single-family home listings on the market, 10 percent more than December 2013.
  • 5,077 – Active single-family home listings on the market, 12 percent more than December 2013.
  • 1,623 – Pending sales for single-family homes, 18 percent more than December 2013.
  • 2.2 – Months of inventory* of single-family homes, 0.2 month more than December 2013.
  • $710,200,206 – Total dollar volume of single-family properties sold, 21 percent more than December 2013.

2014 Year-End Totals

  • 27,768 – Single-family homes sold, two percent more than 2013.
  • $242,500 – Median price for single-family homes, eight percent more than 2013.
  • $309,975 – Average price for single-family homes, seven percent more than 2013.
  • 47 – Average number of days that single-family homes spent on the market, three days fewer than 2013.
  • 35,423 – New single-family home listings on the market, four percent more than 2013.
  • 5,734 – Active single-family home listings on the market, four percent more than 2013.
  • 28,325 – Pending sales for single-family homes, one percent more than 2013.
  • $8,607,385,376 – Total dollar volume of single-family properties sold, nine percent more than 2013.

Are you looking to start off the new year with a new home? Get in touch with your REALTOR® to continue your home search! If you don’t have a REALTOR® yet, try our Find a REALTOR® page right here on AustinHomeSearch.com.


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