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Homing in on Austin Real Estate Prices, Sales Inside City Limits

Prices rise higher and faster than in surrounding area

The Austin Board of Realtors published the monthly Multiple Listing Service (MLS) market report today, according to the Austin American-Statesman, taking a look at the number and price of home sales for February 2016 compared year-over-year (i.e., with February 2015 numbers).

The numbers more or less jibe with those released by real estate brokerage Redfin last week. Both ABoR and Redfin released numbers for the Austin area, which for Redfin means they include Round Rock, San Marcos, Austin, and presumably areas in between.

ABoR's numbers, however, allow us to look at just the city of Austin, however. When you remove surrounding towns and suburbs from the equation, the Austin numbers are, predictably, higher.

According to the board, the median price of a single family home rose a whopping 18% increase since last February, with the median price being $334,950. The number of those homes sold during the month increased 6%, to 572, and inventory increased slightly (0.3%) to 1.6 months' worth.

Austin homes for sale stayed on the market an average of 48 days, an increase of eight days over last February.

• ABoR hones in on region's mobility issues as Central Texas continues to grow [Austin Board of Realtors]

• Austin-area home sales, sales prices up in February [Austin American-Statesman]