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Area Home Sales Jump as Median Price Rises Dramatically

New Austin Board of Realtors report sees sharp rise over last year

An Austin Board of Realtors report released today and cited by the Austin American-Statesman puts the increase in Austin area home sales in March 2016 at 9.3 percent higher than they were for the same month in 2015.

Based on Multiple Listing Service information, ABoR also reported that median sales price for single-family homes in the area rose to $278,000, up 7.7 percent from the previous year, when it was $258,000.

If those numbers sound low, it might be because the Austin area in ABoR's reports includes some surrounding suburbs. The report shows the median price of single-family homes in the city of Austin was $330,000 and that the number of homes sold jumped 10% over last year.

ABoR's press release includes handwringing quotes from president and a local broker about the need to address affordability issues at a city level (mostly through development code reform, apparently) but does not include any information about how that is currently being done.

ABoR calls attention to housing diversity issues in Central Texas amidst rising home prices [ABoR site]

Central Texas home sales up 9.2% in March [Austin American-Statesman]