AUSTIN, TX. – The heat isn’t the only thing that’s sizzling in Texas this summer; thanks to the recent housing report from the Texas Association of Realtors (TAR) we know that home sales have continued to increase in cities like Austin, making summer 2016 the hottest summer yet for real estate.
Median Home Price
During the second quarter of 2016 we saw the median home price increase 5.5% (year-over-year) to $215,000, an all-time high for the state of Texas, and what gets even better is that active listings rose by 4.1% from Q2 in 2015, while closed sales were also up to 91,418, the best sales volume we’ve ever seen in Texas.
Best Summer Ever?
In Texas, just about every Realtor® in Austin, and across Texas, would agree that the start of summer 2016 is proving to be the best summer ever as homes of all types are seeing price increases and real estate continues to remain in high demand, especially homes that are priced at $200,000 or less, because those homes are typically the most preferred homes by first-time home buyers across Texas.
Another Reason to Move to Texas
Did you know that during Q2 of 2016 we 45 percent of homes here were priced at $200,000 or less? What’s even better is that the Texas Real Estate market also had 47 percent of homes that were priced between $200,000 and $499,000 while just 8 percent of homes in Texas were priced at $500,000 or above.
What’s happening in Austin?
You’re probably wondering what about the Austin Real Estate Market? Well, we have good news for you! Here in Austin the median home price also increased by a nice 6.6 percent, year-over-year, to $286,700. In Austin, we also saw active listings grow by over 5 percent and closed sales increased by 8 percent in the last year.
Hire an Austin Texas Realtor
If you’re planning on buying or selling a home get started with hiring an Austin Texas Realtor® contact the Kent Redding Group today by calling us at (512) 306-1001 or click here to connect with us through our website.