Number Of Austin Homes Sold Declines While Prices Rise

ZipRealty is reporting this week that both the selling and asking prices for homes in the Austin Real Estate market have risen 17 percent over August of last year. This while actual sales of new and existing homes have actually dropped 19 percent compared with the same period last year.

Average selling prices on homes in Travis County increased from $282,869 to $331,200 over last year at this time reported Zip, a nationwide brokerage firm. But while sellers were pulling in over 95% of their asking price, total sales skidded to an average of $316,621, nearly 20% off their previous year mark and spent an average of 70 days on the market before selling, an increase of 3%.

Total number of homes sold also suffered as that number fell 7% just from July to August while the average asking and selling price fell 5% over the same period. Finally, the total number of homes on the market was up over 15% from August of last year.