2015 Year-End Totals
- 29,068 – Single-family homes sold, five percent more than 2014.
- $263,900 – Median price for single-family homes, nine percent more than 2014.
- $333,558 – Average price for single-family homes, eight percent more than 2014.
- 49 – Average number of days that single-family homes spent on the market, two days more than 2014.
- 36,810 – New single-family home listings on the market, four percent more than 2014.
- 6,044 – Active single-family home listings on the market, five percent more than 2014.
- 29,839 – Pending sales for single-family homes, five percent more than 2014.
- $9,695,852,178 – Total dollar volume of single-family properties sold, 13 percent more than 2014.
The following sections describe trends in other sectors of the Austin-area real estate market.
Townhouses & Condominiums
The number of townhouses and condominiums (condos) sold in the Austin area in December 2015 was 230 properties, unchanged from December 2014. The median price for condos was $250,000, which is eight percent more than the same month of the prior year. These properties spent an average of 46 days on market, 10 days fewer than in December 2014.
In 2015, Austin-area condo sales dipped three percent from the year prior to 3,057 condo sales. Median price for Austin-area condos was $227,700, a six percent increase from 2014. Condos spent the same amount of time on the market in 2015 as 2014, or an average of 43 days.
In December 2015, a total of 1,153 properties were leased in Austin, which is three percent less than December 2014. Properties spent an average of 47 days available for lease, or two fewer days than December 2014. The median rent for property leases was $1,500 per month, a three percent increase from December 2014. Active property listings increased three percent from December 2014 to 1,630 properties. In all of 2015, a total of 17,875 properties were leased in Austin, which is five percent more than 2014, and the median rent was $1,540 per month, or four percent more than 2014.
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* The inventory of homes for a market can be measured in months, which is defined as the number of active listings divided by the average sales per month of the prior 12 months. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.