Austin Report: Austin, Texas is Ablaze. Central Texas Home Sales Up 19 Percent Over 2010

Central Texas home sales are up 19% over the same time period last year, that’s the good news. Bad (maybe) news is, prices have declined. The median price of an Austin area home last month declined by 3 percent to $189,720, according to the Austin Board of Realtors. For the year, the area’s median home price remained unchanged at about $194,900.

According to the Board, 1,455 homes were sold in Austin in October, compared with 1,219 the previous October. But like us here in Dallas, Austin is seeing a marked decrease in listings inventory. Every single day I get an email from an agent seeking a home for a client. In Austin, the number of homes on the market was down 18 percent, to 7,926 listings. Experts there say that is lower inventory than any month since 2008.

Like Dallas, experts say Austin’s housing market has fared better than many other parts of the country, fueled by job and population growth in the Central Texas region, among other factors.

This home is at 2206 Windsor Road (must click to see) and has those great hilly Austin views, even the Capitol in sight! It’s slightly higher than an average Austin home at $3,298,650. On the other hand, a recent $10.8 million Austin mansion was recently auctioned off for $3.3 million! Out of 4 bidders, with the minimum bid starting at  $1.9m, the 11,925sf waterfront estate finally found a new owner at only $3.3 million. Now that’s a price cut!