Austin has long been one of the most popular cities in Texas.  The state capital is now arriving on the national scene as one of the best locations to live in the country.  Austin was voted as the second best place to live in the country by Money magazine in 2006.

If you’re on the market for real estate in Austin, keep up to date with the latest statistics for the market.  According to the most recent numbers coming out of the market for single family homes in the Austin area, sales have dropped during the last few months.

During October, a total of 1,772 homes were sold, a 15 percent drop from the same month last year.

Meanwhile, while demand continues to drop, the supply of homes on the market has jumped to levels not seen in three years.  A total of 9,431 single-family homes were listed on the market in October, nearly a 20 percent increase from the same month last year.

The median price for a single family home in October stood at $180,000, a $5,000 increase over the same period last year.  However, it is more than $11,000 lower than the highs seen during the summer.

Buyers could start to find excellent deals on real estate around Austin if demand doesn’t pick up in the next few months.  Take advantage today of the great deals on real estate in the area and enjoy the incredible lifestyle that can only be found in Austin.

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