Austin-Area Real Estate Up Slightly in March 2019
Austin-area real estate experienced a small uptick in March 2019, according to the Austin Board of REALTORS® Central Texas Housing Market report. Sales of single-family homes in the Austin-Round Rock Metropolitan Statistical Area increased 1.9 percent in March 2019, to 2,740 home sales. Median price increased 0.8 percent to $305,000, from $302,500 in March of 2018.
Total sales dollar volume for the Austin area increased 1.2 percent compared to March 2018 to $1,064,124,011. New listings were down 2.2 percent, while active listings were up 8.4 percent and pending sales were up 18.4 percent. Inventory increased by 0.2 months to reach a supply of 2.4 months.
The City of Austin experienced a decline in sales, with 4.6 percent fewer sales than in March 2018, and also a decrease in total sales dollar volume, with a 0.4 percent decline. New listings, active listings, and pending sales all decreased.
Prices did rise in Austin, with a 2.8 percent increase in March 2019 to a median price of $375,000. Inventory remained notably low at a 1.5-month supply, significantly lower than the six to 6.5 months the Real Estate Center at Texas A&M University considers a balanced housing market.
ABOR President Kevin P. Scanlan said, “Because Austin’s economy is thriving and the city continues to remain one of the most popular living destinations in the country, the housing market remains extremely tight.”
Home sales in Williamson County increased 9.2 percent in March 2019, and median price increased 0.5 percent to $279,300. Inventory was up 0.2 months to 2.3 months. In Hays County, home sales increased 10.8 percent in March 2019, and median price was flat at $259,950. Inventory was up 0.5 months to 3.1 months.
Austin-area March 2019 Sold Homes
- Number of sold homes: 2,740 (Up 2% compared to March 2018)
- Median sold price: $305,000 (Up 1% compared to March 2018)
- Days on the market: 64 (Up 1 day compared to March 2018)
Austin-area March 2019 Single-Family Homes on the Market
- New listings: 3,890 (Down 2% compared to March 2018)
- Active listings: 6,060 (Up 8% compared to March 2018)
- Pending sales: 3,378 (Up 18% compared to March 2018)