The third quarter of 2011 was marked by a strong volume of home sales in Austin, outpacing 2010 by 32 percent in July, 33 percent in August and 31 percent in September. Median prices remained stable, ending the quarter with a median price of $189,000 in September, only two percent less than one year ago.
Pending sales, which are sales that will likely close within the following month, also enjoyed high volume during the third quarter of 2011. Compared to 2010, July saw an increase of 28 percent, whereas August and September both saw increases of 19 percent. A total of 14,862 homes were sold between January and September of 2011, which is six percent more than the same period in 2010.
“With the impact of the homebuyer tax credits fully behind us, it’s encouraging to see three consecutive months of year-over-year growth in sales volume for Austin-area homes,” said Judith Bundschuh, Chairman of the Austin Board of REALTORS®. “In the midst of that growth, Austin home values have remained stable.”
For more information about the Austin real estate market and how it may affect you, contact your Central Texas REALTOR®.