AUSTIN (Austin Board of Realtors) – Sales of existing single-family homes in Austin last month were up 10 percent over January 2011, according to the MLS report released today by the Austin Board of Realtors (ABoR).
Data showed 1,051 existing homes were sold in the area in January 2012. During the same period, the median price was $176,550, 7 percent less than a year ago.
The Austin market had 4.1 months of inventory last month, or 1.4 months less than the previous year. The figure, unchanged from December 2011, marks the lowest inventory level the Austin market has seen since the organization began tracking the statistic in January 2009.
"It is encouraging to see last year’s momentum continue into the new year," said ABoR Chairman Leonard Guerrero. "January marks the eighth straight month in which the volume of home sales in Austin has outpaced the previous year and the inventory of homes has decreased.”
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