Archived Story

August home sales up slightly over 2011

Published 9:34am Friday, September 21, 2012

August home sales in Austin continued its trend from July of just clearing year over year totals.

There were 39 homes sold in Austin in August, compared to 38 in August 2011, according to data released Wednesday from the Southeast Minnesota Association of Realtors. That’s up from 31 sold in July, but down from 48 in June.

There are signs the local market is picking up, though. Through the first eight months of 2012, there have been 262 homes sold in Austin, compared to 241 during that same span in 2011, which is an 8.7 percent increase. Homes are also selling faster; spending an average of 120 days on the market in 2012 compared to 133 through August 2011.

“Through August, the market has shown further signs of stability,” said Angie Schott, SEMAR President in a news release. “Continued historic low interest rates and home affordability will continue to support the stability of the market.”

However, the median sales price for an Austin home is up slightly, at $77,000 through August, compared to July’s mark of $75,000.

Austin still leads other cities of comparable size in SEMAR’s region, as its 262 homes sold year-to-date tops the Winona/Goodview area at 243, Owatonna at 203, and Albert Lea at 128.

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