Real Estate Report

Austin-area home sales top $1 billion for first time ever

Austin-area home sales top $1 billion for first time ever

exterior of house on Austin Modern Home Tour
June 2015 was a record-breaking month for Austin home sales. Photo courtesy of Austin Modern Home Tour

Last month was another record-breaking one for Austin real estate, according to the latest report from the Austin Board of Realtors.

In June 2015, home sales topped 3,000 for the first time since July 2013. A whopping 3,051 homes were sold — an increase of 5 percent over June 2014. In addition, median home prices increased 8 percent year-over-year to $272,250; average home prices increased 2 percent to $333,866. 

Perhaps the greatest milestone last month was total dollar volume. For the first time ever, Austin home sales topped $1 billion. The total dollar volume of single-family properties sold in June 2015 was $1,018,625,166, an increase of 8 percent over the previous year. 

"June’s increased home sales, combined with total dollar volume exceeding $1 billion for the first time ever, shows the amazing equity Austin homeowners have in the market and the powerful impact of real estate in Central Texas," said ABoR President Barb Cooper in a release.

The ABoR report also includes mid-year statistics that reflect a strong local market. For example, during the first half of 2015, the total dollar volume of single-family properties sold was $4,617,178,959 — up 12 percent from the first half of 2014.

"If this growth continues, 2015 could become another historical year for Austin-area home sales," Cooper said. "Both homebuyers and sellers can expect a strong, competitive market for the rest of the summer selling season."