Austin, Texas Real Estate Market Update and Statistics November 2019

Austin-Round Rock Home Sales Increase by Double Digits in October 2019, Austin Breaks Record

Austin-Round Rock Metropolitan Statistical Area home sales increased 16.8 percent in October 2019, while Austin home sales increased 14.5 percent to result in more homes being sold than in any October, according to the Austin Board of REALTORS® Central Texas Housing Market Report.

“With an average of 100 people moving here every day, the demand for housing is growing much faster than the number of homes available,” said ABOR President Kevin P. Scanlan.

In the Austin-Round Rock MSA, median price increased 7.4 percent to $327,500 in October 2019, and total sales dollar volume increased 23.3 percent to $1,084,580,726. New listings were up 8.4 percent, pending sales were up 25.2 percent, and active listings decreased 12.1 percent. Inventory declined 0.5 months to 2.3 months of inventory. Homes were on the market an average of 54 days.

In the city of Austin, median price reached a record high for the month of October, increasing 8.9 percent to $405,000. Sales within the city increased 21.4 percent overall, totaling $407,873,084. New listings decreased five percent, active listings decreased 25.1 percent, and pending sales increased 8.4 percent. Inventory declined 0.6 months to 1.5 months of inventory, an all-time low for the month of October. Homes were on the market an average of 41 days.

In Williamson County, home sales increased 14.3 percent in October, while median price increased 4.2 percent to $295,000. Sales dollar volume was up 19.7 percent. Inventory decreased 0.6 months to 2.3 months of inventory.

In Hays County, home sales increased 11 percent in October, while median price increased 7.1 percent to $266,000. Sales dollar volume was up 9.6 percent. Inventory decreased 0.4 months to 2.9 months of inventory.

Austin-area October 2019 Sold Homes

• Number of sold homes: 2,721 (Up 16% compared to October 2018)
• Median sold price: $327,500 (Up 7% compared to October 2018)
• Days on the market: 54 (Down 7 days compared to October 2018)

Austin-area October 2019 Single-Family Homes on the Market

• New listings: 3,067 (Up 8% compared to October 2018)
• Active listings: 6,381 (Down 12% compared to October 2018)
• Pending sales: 2,866 (Up 25% compared to October 2018)