In Southwest Austin, the median price for residential properties—including single-family homes, condos and townhomes—in February was $402,750, a year-over-year increase of 13.5%, according to the most recent monthly report by the Austin Board of Realtors released March 19.

The median price for a single-family home reached $415,000, with 303 total single-family units sold in the month, according to ABoR.

Southwest Austin saw 42 units of new construction sold in February. That compared to 288 existing properties that were sold during that same time.

Overall in the city of Austin, high demands and limited inventory on the market led to a 14% year-over-year increase in median home price to $395,000. The number of home sales also increased by 3.3%, with 857 total sales in February.

New listings posted and the total number of active listings for sale also dropped in February, while pending sales rose by 4.5%.

Monthly housing inventory decreased to one month of inventory, according to the report.