Single-family home sales hit 2,679 last month, up 2 percent compared with May 2006 and a record for the month, according to the latest Multiple Listing Service Report from the Austin Board of Realtors.
The median price for single-family homes was $183,160 for the month, up 5 percent from a year earlier. Active listings are also on the rise, up 8 percent from last year to 8,821. Meanwhile, high demand has pushed the number of days homes sit on the market down 7 percent to just 55 days.
Home prices appreciated more than 10 percent in the first quarter of the year, according to figures from the Office of Federal Housing Enterprise Oversight. That’s more than double the national appreciation rate of about 4 percent. Across Texas, homes prices rose nearly 7 percent year-over-year.