Austin Business Journal by Jan Buchholz
Median list prices for homes in the Austin market are on the upswing while inventory has declined substantially during the past year.
The median list price in March was $235,000, a nearly 12 percent increase compared to the same month in 2011, according to Realtor.com. Nationally, the median list price was $189,900, or an increase of 5.6 percent from a year ago.
The active inventory of for-sale homes was 8,913, or a decrease of 18.2 percent compared to March 2011. Nationally, inventory also has dropped to 1.8 million homes, or a 21.5 percent decline from a year ago.
The median age of inventory in the Austin area was 60 days, a reduction of 22.1 percent when compared to the same month last year. Nationally, the median age of inventory is 89 days, a decrease of about 19.8 percent from a year ago.