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Austin Home Sales Lower in May

Apartment Experts South Card

Austin home sales dropped slightly last month according to statistics from the Austin Board of Realtors (ABoR), Community Impact reports.  

2,767 homes sold in May, down 2%, which ABoR blames on the record-setting rise in housing prices in the Austin-area.  Home values usually go up 4 percent annually, but in Austin, they've increased 9 percent since a year ago.

Austin Board of Realtors estimates that just 25% of all homes going on the market in the #Austin area are under $200,000.  The median price for single-family homes is $271,000 and the average price is $348,201.  This makes the majority of single-family homes out of reach of the buying power of most homebuyers.  It also makes it impossible for builders to construct homes in the area that are under that magic $200k mark.

Ready to find a new #apartment that's within your budget?  Call Apartment Experts South today at 512-416-8100 to take advantage of our expert knowledge of the Austin rental market.

Posted in Austin, Rent Smart
 
 

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