Austin, Texas Real Estate Market Update and Statistics December 2019
published on December 17, 2019
Double-Digit Increase in Austin-area November Home Sales, Record-breaking Year Expected
Austin-Round Rock Metropolitan Statistical Area home sales increased 14.3 percent in November 2019 compared to November 2018, putting the region on track to break home sales record for the year, according to the Austin Board of REALTORS® Central Texas Housing Market Report.
Median price for the Austin-Round Rock MSA increased 1.7 percent to $305,000 in November 2019, while total sales dollar volume increased 18.3 percent to $984,201,220. New listings in November 2019 were fairly stable, with a 0.5 percent decrease compared to last year. Active listings were down 14.7 percent, and pending sales were up 21.9 percent. Housing inventory declined 0.5 months to 2.1 months of inventory.
Within Austin, median price reached a record for the month of November, increasing 10.6 percent to $405,000. Home sales increased 4.5 percent, and total sales dollar volume increased 12.7 percent to $329,203,254. New listings in November decreased 15.1 percent, active listings decreased 33.3 percent, and pending sales increased 14.1 percent. Inventory dropped 0.6 months to 1.3 months of inventory.
Metrostudy Austin Regional Director Vaike O’Grady said, “This time last year, we expected the housing market would slow, but that’s not been the case. We’re seeing very strong numbers for new homes across the board.”
Williamson County home sales increased 13.2 percent in November 2019 compared to November 2018, while median price decreased 0.4 percent to $278,000. Inventory was down 0.6 months to 2.1 months of inventory.
Hays County home sales increased 11.4 percent in November 2019 compared to November 2018, while median price increased 3.6 percent to $260,000. Inventory was down 0.3 months to 2.8 months of inventory.
Austin-area November 2019 Sold Homes
- Number of sold homes: 2,544 (Up 14% compared to November 2018)
- Median sold price: $305,000 (Up 1% compared to November 2018)
- Days on the market: 62 (Down 2 days compared to November 2018)
Austin-area November 2019 Single-Family Homes on the Market
- New listings: 2,351 (Down 0.5% compared to November 2018)
- Active listings: 5,774 (Down 14% compared to November 2018)
- Pending sales: 2,526 (Up 21% compared to November 2018)
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