February 2019 Home Sales Break Record
More Central Texas homes were sold in February 2019 than in any previous February, according to the Austin Board of REALTORS® February 2019 Central Texas Housing Market report. Sales increased six percent from February 2018 to 2,101 sales.
“We’ve been hearing from our members that buying and selling activity has really picked up over the past month,” said ABOR President Kevin P. Scanlan. “We’re seeing a lot of development in North Austin, as major tech employers are looking for space with ample room for housing development and access to major transportation arterials.”
Median home price in the Austin area for February 2019 was $295,000, a 0.3 percent decrease compared to $296,000 in February 2018. Inventory increased 0.3 months to 2.3 months of inventory, still markedly low, with a 6.5-month supply considered balanced by the Real Estate Center at Texas A&M University.
Within the city of Austin, home sales increased 7.3 percent compared to February 2018. Median price decreased 1.6 percent to $360,000. Inventory increased 0.1 months to reach 1.4 months of inventory.
In Williamson County, home sales increased 7.7 percent compared to February 2018, and median price increased 2.8 percent to $279,500.
In Hays County, home sales increased 16.1 percent in February 2019 and median price increased 4.5 percent to $262,000.
Scanlan said, “While demand remains strong due to population growth, this is no longer a market where homes sell significantly above listing price. Housing affordability challenges might be limiting what consumers are able to pay for a home.”
Austin-area February 2019 Sold Homes
- Number of sold homes: 2,101 (Up 6% compared to February 2018)
- Median sold price: $295,000 (Down 0.3% compared to February 2018)
- Days on the market: 70 (Down 3 days compared to February 2018)
Austin-area February 2019 Single-Family Homes on the Market
- New listings: 3,015 (Up 7.3% compared to February 2018)
- Active listings: 5,858 (Up 18.9% compared to February 2018)
- Pending sales: 2,715 (Up 16.6% compared to February 2018)