Posted on February 23, 2016 - 02:58 PM
by Terry Williams
According to the Austin Multiple Listing Service (MLS), Austin-area single-family home sales dropped slightly in January 2016 compared to January 2015. Home sales decreased by 1.9 percent year-over-year to 1,459 home sales and median price increased 6.3 percent year-over-year, reaching $254,999 in January 2016. I expect this trend to continue due to the affordabilty of homes in the Austin area. Meanwhile, Austin area suburbs continue heavy growth. Housing inventory stood at 2.0 months, which is well below a balanced market of 6.5 months.