Homes sales and prices were both up last month in the Austin area last month compared to the prior September, the Austin Board of Realtors said Tuesday.
In its latest monthly report, the board said 2,576 single-family homes changed hands in September, 1.3 percent more than in September 2015. The median sales price was $275,250, up 7.5 percent year-over-year. The report covers sales in Travis, Williamson, Hays, Bastrop and Caldwell counties.
Within Austin’s city limits, home sales declined 4.5 percent year-over-year to 746 home sales, while median price saw a double-digit increase of 10.6 percent, rising to $345,000.
In September, fewer than one in three homes sold in the Austin area were within Austin’s city limits, further evidence that it’s time to act to improve housing affordability and mobility in the region, the board said.
“As more and more homebuyers look outside of Austin’s city limits to find an affordable home, our region’s infrastructure is increasingly strained and the overall costs of homeownership rise because of the increased cost to commute,” Aaron Farmer, the board’s president, said in a written statement.
The board is urging support for the City of Austin’s $720 million mobility bond proposition which aims to ease congestion, among other goals.
“Both Austin’s current housing stock and infrastructure are not sustainable for our region’s projected population growth, which is expected to double by 2040,” Farmer said.