Homes sales in Austin-area see large increase in February

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The home sales in the Austin area increased by 16 percent in the month of February and the median price of home saw a  3 percent increase.

In February 2011, there were 1,104  single-family homes sold in the Austin-area and this year, this number rose to 1,283. Officials have stated that the increase in home prices could be because there has been more competition in the field.

The number of days that homes stayed on the market decreased in February. The average this year is at 86, compared to the average in February 2011, which was 98.

For more news on the city of Austin or its economy, visit the Austin American-Statesman online today.