Austin-area Home Sales Up Almost 15 Percent in April 2019
Home sales in the Austin area increased 14.9 percent in April 2019 compared to April 2018, according to the Austin Board of REALTORS® April 2019 Central Texas Housing Market Report. Likewise, sales dollar volume was up 14.1 percent to $1,207,238,711. Prices for the region held steady, with a 1.6 percent increase leading to a median price of $320,000.
Following flat first-quarter 2019 growth in Central Texas home prices, ABOR President Kevin P. Scanlan said, “These narrower margins are a strong indication that market prices are starting to stabilize. In the first quarter of the year, the median price of a single-family home in the Austin-Round Rock MSA increased by just 0.2 percent, which is a much smaller margin compared to previous years. Between 2012 and 2015, we saw price increases as high as nine percent.”
New listings, however, decreased by 1.8 percent in April in the Austin-Round Rock Metropolitan Statistical Area, which may put upward pressure on prices. Scanlan said he does expect the number of new listings to increase “as we enter the summer selling season.”
The city of Austin experienced marked decreases in listings, with a 10.7 percent decrease in new listings and a 12 percent decrease in active listings, plus a 4.2 percent increase in pending sales. This resulted in a 0.2-months’ drop in inventory to a 1.5-month supply. Within the city of Austin, median home price increased 1.1 percent in April 2019 to $394,450, and home sales increased 3.6 percent.
In Williamson County, home sales increased 22.6 percent year over year, while median price decreased 0.5 percent to $283,640. In Hays County, home sales increased 17.2 percent year over year, while median price increased 18.7 percent to $296,500.
Austin-area April 2019 Sold Homes
- Number of sold homes: 3,035 (Up 15% compared to April 2018)
- Median sold price: $320,000 (Up 2% compared to April 2018)
- Days on the market: 50 (Down 4 days compared to April 2018)
Austin-area April 2019 Single-Family Homes on the Market
- New listings: 4,018 (Down 2% compared to April 2018)
- Active listings: 6,217 (Up 1% compared to April 2018)
- Pending sales: 3,588 (Up 14% compared to April 2018)