Austin’s thriving housing market continued its upward ascension last year, generating 27,298 single-family home sales in 2013. The majority of the housing growth occurred in suburban markets, where much of the city’s $883 million in luxury home sales took place. While million dollar homes spent an average of 106 days on the market in 2013, the average price per square foot reached $326, which was a $3 increase over the previous year. With a median income that is $8,062 higher than the national median income and an influx of 343,832 residents from 2006 to 2013, Austin set a new record for home sales volume in December 2013 and the average home price reached $280,000.

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