Austin-area Home Sales Break Record in 2018
Home sales in the Austin-Round Rock Metropolitan Statistical Area broke an all-time record in 2018, with 30,713 homes selling for a total of $11.9 billion in sales dollar volume, according to the Austin Board of REALTORS®. This was a 2.1 percent increase in sales and was impacted by a 3.6 percent increase to $310,400 in the median price of homes.
“2018 was the highest-grossing year on record, and for the first time ever, the median price for single-family homes in the Austin-Round Rock MSA (metropolitan statistical area) stayed above $300,000 for 10 consecutive months,” said ABOR President Kevin P. Scanlan.
The annual highs were despite down numbers in December 2018. For the month, sales of homes in the Austin area decreased 11.1 percent and the median home price decreased 0.8 percent to $305,000.
Independence Title State Director of Information Capital Mark Sprague said, “Last November, we began to see fewer listings on the MLS (multiple listing service), which is typical of a seasonal slowdown during the holidays. It’s also likely that people are staying in their homes longer to watch their investment increase and keep their current interest rate.”
Sprague said he thinks 2019 will be similar to 2018 in terms of sales. “Austin’s strong gross domestic product growth will continue to drive our region’s job growth and need for housing.”
Within the city of Austin, sales were flat for the year, while sales dollar volume increased by 5.3 percent to $4,365,464,913 and median price increased by 4.1 percent to $375,760. For the month of December 2018, overall sales decreased 17.3 percent to 669 sales and median price increased 6.2 percent to $376,875.
For the year, median home price in Travis County increased by 2.9 percent to $360,000 and sales increased 3.2 percent. In Williamson County for the year, median home price increased to $285,000 and sales increased by 1.2 percent. In Hays County for 2018, median home price increased 2.3 percent to $264,990, and sales increased by two percent.
Austin-area December 2018 Sold Homes
- Number of sold homes: 2,370 (Down 11% compared to December 2017)
- Median sold price: $305,000 (Down 1% compared to December 2017)
- Days on the market: 67 (Down 5 days compared to December 2017)
Austin-area December 2018 Single-Family Homes on the Market
- New listings: 1,684 (Up 2% compared to December 2017)
- Active listings: 5,813 (Up 12% compared to December 2017)
- Pending sales: 1,955 (Up 3% compared to December 2017)