Austin housing market on the mend

The Austin housing market continues to show slight signs of improvement.

Twenty-five houses sold in Austin during the month of January, an 8.7 percent increase from the 23 sold in January 2011, and the median sales price jumped from $78,000 to $82,750 over that same period, according to statistics released from the Southeast Minnesota Association of Realtors.

In addition, the total number of listings in southeast Minnesota is less than what was on the market last year at this time, which may signify slightly less selection for buyers and what we hope is better faring in the market for sellers, according to Angie Schott, SEMAR MLS president.

“The number of listings sold this January is holding steady compared to January of 2011, and interest rates staying historically low can only help continue this hopeful trend,” Schott said.

While there were 35 new listings in January compared to 25 that month last year, the total number of properties listed over the past 12 months is 218, a decrease of 13.1 percent from the 251 for that same period a year ago.

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