The Austin Board of Realtors released the Austin-area MLS numbers this week for October 2014. As expected, another record-breaking month occurred. Here are a couple of highlights along with the familiar infographic:
|Photo courtesy of abor.com|
- Median price of single-family home: $240,000
- Average price of single-family home: $311,028
- Homes spent 2 additional days on the market (on average) compared to the same month last year (50 days).
- Housing inventory increased to 2.7 months- a 0.2 month increase over last October.
It’s been fascinating to see signs of cooling/stabilizing while continuing to see month after month of record prices. I’ve heard a lot of people talking about Austin experiencing a “real estate bubble”. In fact, one guy in particular sent me a question about real estate bubbles via email that I did my best to respond to in a short video. Check out the video response here if it doesn’t show up below.