AUSTIN (Austin Business Journal) – Austin area home sales rose dramatically in March up 27 percent, compared with the same month last year, while the median price of buying a home was unchanged, the Austin Board of Realtors reported.
The median price for a single-family home in Central Texas was $180,000 in March, the same as March last year. Home sales for the month totaled $422 million with 1,784 single-family homes sold, according to the Multiple Listing Service (MLS) report by the Austin Board of Realtors.
Condo and townhouse sales were particularly strong in March 2010, increasing 129 percent to 215 sold in comparison with March 2009. The market has experienced a sustained demand increase for condos and townhouses since September 2009, Austin Board of Realtors Chairman John Horton said.
March 2010 also marked the second consecutive month of substantially decreased “days on market,” which refers to the average time homes remain active in the MLS. At 73 days for March 2010, homes spent 16 percent fewer days on the market than in March 2009.
A total 1,145 Austin area homes sold in February 2010, up 4 percent from the same month in 2009. That was up from 884 homes sold during January, a 5 percent increase from January 2009.
