Austin, TX Real Estate - Homes Remain Valuable Investment - RisMedia.com (press release)

Aug 19, 2008 5:30 PM - RISMEDIA, August 20, 2008-Austin-area home prices continue their upward trend, according to the latest Multiple Listing Service (MLS) report from the Austin Board of Realtors. The median price for single family homes reached a record high for July, up three percent from one year ago to $195,000.

In July, 2,071 single-family homes were sold, down 21% from one year ago. These sales contributed $534,206,166 to the local economy. July saw active listings rise 15% from one year ago to 10,913, representing five-and-a-half months of housing inventory.

Unlike many other areas of the country, Austin continues to enjoy increasing home values, says ABoR Chairman Socar Chatmon-Thomas. This, coupled with low unemployment rates and a steadily growing population, makes Central Texas a great choice for home buyers.

2,071 was the number of homes sold, a 21% decrease from one year ago $195,000 was the median price, a 3% increase from one year ago and a record for July $534,206,166 was the total dollar volume of properties sold, a 21% decrease from 2007