Austin area home sales up 14 pct in Jan

AUSTIN (KXAN) - Austin area home sales are up 14 percent in January compared to this time last year, according to the Austin Board of Realtors.

According to the nonprofit organization, there were 975 single-family homes sold in the Austin area in January.

"The latest figures show that we are seeing the economic recovery continue in Austin," said Austin Board of Realtors Chairman Judith Bundschuh.

While the sales are up, however, the homes are reportedly staying on the market longer than last year -- listed as 93 days on the market.

In the same time period, the median price in Austin was listed as $190,000, up 6 percent from January 2010.

In addition, new listings were down 14 percent in January in comparison to last year, while active listings were down 5 percent. That indicates a decreasing inventory of homes.