November 2018 Home Sales Notch Austin Area Closer to Record Year
The Austin-area housing market looks to be on track for another record-breaking year, following a slight increase in sales volume in November 2018. Sales volume in the Austin-Round Rock Metropolitan Statistical Area increased 0.7 percent compared to November 2017, according to the Austin Board of REALTORS® Central Texas Housing Market Report. Sales dollar volume increased 5.6 percent, while median price ticked up 2.2 percent to $301,391.
“Sales are up 3.3 percent year-to-date for 2018,” ABOR President Steve Crorey. “Pending sales volume in December, the Central Texas housing market is on track to have one of the highest-grossing years on record.”
For the month of November 2018, inventory in the Austin area grew by 0.2 months to 2.7 months.
Within the city of Austin, home sales were down 5.4 percent compared to November 2017, while home sales dollar volume was considered flat. Median price for a home in Austin rose 5 percent to $374,900. Inventory went down 0.1 months to 1.9 months of inventory.
“Families and young professionals continue to move to the suburbs where there are more opportunities for home ownership at a more reasonable price point than in the city of Austin,” said Crorey. “While home sales growth isn’t as rapid in the city, demand is still strong. Analysts predict Austin will be a market to watch in 2019.”
In Williamson County, home sales were up 4.5 percent, and the median price increased 1.8 percent to $280,000. In Hays County, home sales were up 1.9 percent, and the median price increased 2.8 percent to $262,047.
Austin-area November 2018 Sold Homes
- Number of sold homes: 2,201 (Up 1% compared to November 2017)
- Median sold price: $301,391 (Up 2% compared to November 2017)
- Days on the market: 64 (Up 3 days compared to November 2017)
Austin-area November 2018 Single-Family Homes on the Market
- New listings: 2,380 (Up 2% compared to November 2017)
- Active listings: 6,907 (Up 12% compared to November 2017)
- Pending sales: 2,217 (Up 3% compared to November 2017)