Both the price and number of single family homes sold in January 2015 were higher than that of January 2014, according to data from ABoR.[/caption] Austin Board of Realtors released January housing market data Feb. 20, revealing that year-over-year home sales increased for the fifth-consecutive month. January was also the fourth month in a row in which home prices increased by double digits compared with the previous year, according to ABoR data. With housing affordability already a challenge for many Austin residents, this increasing pace of home price growth is concerning," said Barbara Cooper, president of ABoR, in a statement."More than half of the homes sold in the Austin-area are now priced out of an affordable range for much of Austins workforce. In January, the median price for Austin-area homes increased 13 percent year-over-year to $240,000, and the average price jumped 14 percent to $310,187, according to the data. More single-family homes were sold compared with January 2014 as 1,547 homes were purchased, an 11-percent increase. The amount of houses on the market could sustain 2.2 months of demand, or 0.2 months higher than January 2014 but still not the recommended amount of 6.5 months of housing inventory based on Texas A&M UniversityReal Estate Center's definition of a balanced housing market. "Housing inventory is rising, but the current pace is not enough to alleviate Austins affordability challenges," Cooper said in a statement. "Furthermore, more homes on the market will not increase housing affordability if those homes are all priced for move-up homebuyers. Austin needs a regulatory environment that will ensure development of all housing types, priced in an affordable range for all Austin residents." January 2015 Statistics 1,547—Single-family homes sold, 11 percent more than January 2014. $240,000—Median price for single-family homes, 13 percent more than January 2014. $310,187—Average price for single-family homes, 14 percent more than January 2014. 63—Average number of days single-family homes spent on the market, unchanged from January 2014. 2,360—New single-family home listings on the market, one percent more than January 2014. 5,005—Active single-family home listings on the market, nine percent more than January 2014. 2,026—Pending sales for single-family homes, four percent more than January 2014. 2.2—Months of inventory* of single-family homes, 0.2 months more than January 2014. $479,859,289—Total dollar volume of single-family properties sold, 27 percent more than January 2014. Source: Austin Board of Realtors