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Report: Austin-area home prices up 33% compared to same time last year

Prices may have jumped from last year to now, but the report by Texas Realtors indicates sales have gone down in the Austin area and across the state.

AUSTIN, Texas — The median price of a single-family home in the Austin area has jumped nearly 33% compared to this time last year, according to a new third-quarter report from Texas Realtors.

The Texas Quarterly Housing Report indicates that the median price is up to $465,000 compared to last year.

The report indicates the Austin-Round Rock area has the highest median price in the state, easily passing the Dallas/Fort Worth and Houston areas, which sit at $354,900 and $305,000, respectively. 

The median price of a home around Texas is up about 17% to $310,000 – still well below Austin's.

However, home sales in the area dropped about 7% when compared to this time last year.

Around the state, Texas Realtors is reporting a similar trend in sales, although not as severe. Sales statewide are down only 3.5%, half of what the area saw in the third quarter.

To see the detailed report and how the Austin area compares to others around the state, click here.

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