Austin real estate market remain strong

Austin Business Journal - 2:43 PM CST Monday, February 19, 2007

Condominium and townhome sales recorded double-digit growth, although the number of single-family homes sales fell slightly over the previous year for the month of January, according to the latest Multiple Listing Service report from the Austin Board of Realtors.

During the month of January, single-family home sales totaled 1,452, down slightly from the 1,556 homes sold during the same time last year.

Despite the lower number of total homes sold, the total contribution to the local economy continued to inch upward reaching $352.43 million, a one-percent aggregate increase over last January's revenue figures.

In addition, the median price for single-family homes rose from $165,750 last year to $175,000 in 2006, a 5 percent increase over January 2005.

In addition, townhome and condominium sales rose in January to 159 units, a 21 percent increase from last year. These sales contributed $30.8 million to the local economy, a 26 percent jump from one year