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BEST OCTOBER EVER
FOR CENTRAL TEXAS
November 28, 2006
AUSTIN (Austin
American-Statesman, inman.com) – The Central Texas’ housing market
set a record in October for both single-family home sales and for home
prices, with homes selling at the fastest pace ever for the month.
Homes sold in
October were on the market an average of 66 days compared with 58 days
for homes sold in September. The Austin Board of Realtors’ latest
Multiple Listing Service report said the number is still a record low
for October.
In the South Austin
area that includes MLS Area 10 neighborhoods such as Cherry Creek and
Tanglewood Forest, active listings took about 18 days to sell.
Last month was the
tenth consecutive month of year-over-year sales gains, with
single-family homes sold up 8 percent from last year. October’s median
price set a monthly record at $175,000, an increase of 9 percent from a
year ago.
The number of new
listings jumped 12 percent during the period. The active listings at the
end of October, although down from September, were up 4 percent from a
year ago. Pending sales were up 19 percent.
There are fewer
homes selling for under $120,000 so far this year when compared with the
same period a year earlier. Home sales in the $200,000 to $249,000 price
range, however, are up 18 percent.
Courtesy of Real Estate Center Online News (RECON)
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