Austin Home Sales Break Record In 2014
The Austin-area housing market set a record for home sales last year, according to the Austin Board of Realtors.
According to the board’s report, 27,768 homes sold in the Austin area last year, a 2 percent increase from 2013.
December home sales also broke records. The report states 2,283 single-family homes were sold in the Austin area in December, a 14 percent increase compared to December 2013 and an all-time high for Austin-area home sales in the month of December.
In 2014, median home price increased by 8 percent to $242,500. The total value of homes sold topped $8.6 billion in 2013, an increase of more than $673 million from 2013.
Homes spent an average of 47 days on the market, three days fewer than homes sold in 2013.
2014 Year-End Totals from the Austin Board of Realtors:
- 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.
Townhome and condominium sales also increased in December, with 222 sold, a 6 percent increase from 2014. However, over the course of 2014, 3,150 Austin condos were sold, which is “statistically unchanged compared to 2013,” according to the report. The median price for a condo was $215,000, a 10 percent increase from 2013. Condos spent an average of 43 days on the market, nine days fewer than 2013.
Leasing also increased last year, with a total of 16,960 properties leased in the Austin area in 2014, a 4 percent increase from 2013. The median lease price was $1,480, a 6 percent increase from 2013.
