real estate
1:35 pm
Wed February 20, 2013

Austin Home Sales Up 33 Percent in January

The number of single-family homes sold in the Austin area rose by 33 percent last month compared with January 2012, according to an analysis of the Multiple Listing Service by the Austin Board of Realtors

The group also says the median price for homes grew by 10 percent over the past year to reach almost $200,000, although experts say those price increases vary wildly from neighborhood to neighborhood.

“We are seeing that it’s very localized," says Jim Gaines, an economist with the Texas A&M Real Estate Center. "In other words, you can go from subdivision A, where you might have a 15 percent price increase. And just down the street in Subdivision B, there might be a 2 or 3 percent. And then a little down the street at Subdivision C might have even fallen.” 

There are almost 5,000 homes on the market in the Austin area according to the Board of Realtors, which is about a quarter less than a year ago.