Austin, Texas Real Estate Market Update and Statistics July 2017
published on July 22, 2017
For the first half of 2017, Austin-Round Rock Metropolitan Statistical Area home sales rose 2.8 percent year-over-year to 14,958 home sales, with median price increasing 6.4 percent year-over-year to $300,000, according to the Austin Board of REALTORS® June 2017 Central Texas Housing Market Report.. Active listings increased 15 percent and sales dollar volume increased 10.4 percent.
For the month of June 2017, home sales volume in the Austin-Round Rock MSA increased 4.4 percent year-over-year, and median price increased 6.6 percent to $314,000. Housing inventory increased 0.5 months to 3.1 months. Total dollar volume for home sales increased 12 percent over last June to $1,347,423,877.
“The Central Texas housing market continued to show signs of normalization in the first half of the year, with positive but more moderate gains in sales activity,” said Austin Board of REALTORS® President Brandy Guthrie. “Homes are spending more time on the market and housing inventory levels have slowly increased throughout the year. While it could take years for the region’s housing market to achieve balance between homebuying and selling activity, these trends indicate that the Central Texas housing market could finally be moving in that direction.”
Within the city of Austin, home sales increased 4.3 percent during the first half of 2017, and median price increased 7.7 percent to $365,000. Active listings also were up, with an 8.7 percent increase.
“So far in 2017, home price appreciation throughout Central Texas has ranged between 5-8 percent,” said Guthrie. “While this is less than the double-digit home price increases experienced over the last few years, the impact on housing affordability for the typical Central Texas homebuyer is still significant. In the city of Austin, for example, the median price for single-family homes in the first half of 2017 was more than $26,000 higher than in the same time period in 2016.”
For the month of June 2017, Austin home sales increased 2.1 percent and median price increased 13.2 percent to $393,500. Inventory increased a modest 0.1 months to 2.4 months of inventory, with homes spending an average of 36 days on the market.
Austin-area June 2017 Sold Homes
- Number of sold homes: 3,415 (Up 4% compared to June 2016)
- Median sold price: $314,000 (Up 7% compared to June 2016)
- Days on the market: 45 (Up 2 days compared to June 2016)
Austin-area June 2017 Single-Family Homes on the Market
- New listings: 4,335 (Up 6% compared to June 2016)
- Active listings: 7,672 (Up 19% compared to June 2016)
- Pending sales: 3,148 (Up 9% compared to June 2016)
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