Homes sales continue record-breaking rise

According to midyear reporting from the Austin Board of Realtors, residential real estate in Austin is even hotter this year than it was in 2015. Single-family home sales in Austin increased 3.3 percent over last year in the first half of 2016, even as prices continued to rise. Median home prices increased by 4.2 percent, reaching $336,000. The trend held true more broadly for the Austin-Round Rock metropolitan statistical area (Travis, Bastrop, Williamson, Hays and Caldwell counties), where a year-over-year comparison shows that sales of single-family homes rose by 6.1 percent in the first half of 2016, while the median price rose 7 percent (to $282,000). According to ABOR President Aaron Farmer, “The Austin-Round Rock housing market is on track to outpace 2015 market levels, which was a record-breaking year for home sales.” For more information, visit ABOR’s website.