The Austin-area real estate market continues to outpace last year's success as single-family home sales increased 13 percent in June compared to 2013.

A record 2,997 homes were sold in June to conclude a strong first half of 2014 in the Austin area, where home sales are up 3 percent overall this year, according to data released July 21 by the Austin Board of Realtors.

At the same time, the number of homes for sale increased despite inventory being in short supply this same time last year. Market inventory increased to 2.8 months in June, according to ABoR data, almost a full month more than what was available at the beginning of the year.

"Austin's housing stock is rising to meet the area's continually strong housing demand, and as a result Austin saw a sharp rise in home sales in June," said Bill Evans, 2014 ABoR president, in a written statement.

ABoR credits more housing development for the increased amount of housing inventory. Second quarter data from Metrostudy, a residential real estate data analysis group, shows Austin-area home starts have increase 8 percent year over year.

"For the first half of 2014, the shortage of Austin-area housing supply prevented the market from being able to grow," said Madison Inselmann, Metrostudy regional director, in a written statement. "Developers are making great strides in both new home development and lot delivery to catch up with the area's strong housing demand."

Increases to home inventory will help meet continued demand, Evans said. Supporting that notion is a 7-percent increase in the median price of Austin-area homes. Also, the average time a home spends on the market dropped four days compared to June 2013.

"2014 could very well turn out to be another 'best-year ever' for Austin-area home sales, but it's important that Austin continue to replenish and expand its housing stock so these strong figures can continue," Evans said.

June 2014 statistics

2,997—Single-family homes sold, 13 percent more than June 2013.

$252,520—Median price for single-family homes, 7 percent more than June 2013.

$326,998—Average price for single-family homes, 8 percent more than June 2013.

39—Average number of days single-family homes spent on the market, four days fewer than June 2013.

3,701—New single-family home listings on the market, 2 percent more than June 2013.

6,426—Active single-family home listings on the market, 6 percent more than June 2013.

2,797—Pending sales for single-family homes, 1 percent fewer than June 2013.

2.8—Months of inventory of single-family homes, 0.1 months less than June 2013.

$980,013,006—Total dollar volume of single-family properties sold, 21 percent more than June 2013.

2014 mid-year statistics

13,426—Single-family homes sold, 3 percent more than the first half of 2013.

$239,900—Median price for single-family homes, 7 percent more than the first half of 2013.

$308,298—Average price for single-family homes, 6 percent more than the first half of 2013.

47—Average number of days single-family homes spent on the market, seven days fewer than the first half of 2013.

19,276—New single-family home listings on the market, 1 percent more than the first half of 2013.

5,327—Active single-family home listings on the market, 2 percent fewer than the first half of 2013.

15,263—Pending sales for single-family homes, 3 percent fewer than the first half of 2013.

$4,139,209,987—Total dollar volume of single-family properties sold, 8 percent more than the first half of 2013.