Steady September 2018 for Austin Real Estate
The Austin area real estate market held fairly steady for the month of September 2018, with a less than one percent decrease in number of sales and an almost six percent increase in dollar volume, according to the Austin Board of REALTORS® September 2018 Central Texas Housing Market Report.
“Austin-area housing market activity has bucked the trend of a cool-weather slowdown over the last several years, maintaining much of the momentum from the summer months through the end of the year,” said ABOR President Steve Crorey. “Home sales growth declined five percent last September, so it’s good to see that the area housing market held steady in September 2018. Austin continues to be one of the fastest-growing markets and most competitive housing markets in the country.”
For the Austin Metropolitan Statistical Area, sales volume decreased by 0.9 percent in September 2018. Year to date, home sales still were up 3.6 percent compared to the same period in 2017. Dollar volume for sales increased 5.7 percent in September 2018, largely due to an about $12k (4.2 percent) increase in median price. At $302,250, September 2018 was the first September with a median price over $300k.
New listings for the Austin MSA were down 2.4 percent in September 2018 compared to September 2017. Active listings were up 5.1 percent, and pending sales were up 3.3 percent. Inventory supply was at three months, unchanged from last year.
The city of Austin also experienced a 0.9 percent decrease in home sales during September 2018, with a dollar volume increase of 8.3 percent. Median price was $365,000 for September 2018, compared to $353,500 in September 2017. New listings decreased 11.8 percent, pending sales were up 4.6 percent, and inventory decreased 0.3 percent to 2.1 months.
Williamson County experienced a 9.1 percent decrease in home sales, while Hays County experienced a 10.8 percent increase in sales.
Austin-area September 2018 Sold Homes
- Number of sold homes: 2,368 (Down 1% compared to September 2017)
- Median sold price: $302,250 (Up 4% compared to September 2017)
- Days on the market: 53 (Down 1 day compared to September 2017)
Austin-area September 2018 Single-Family Homes on the Market
- New listings: 2,790 (Down 2% compared to September 2017)
- Active listings: 7,706 (Up 5% compared to September 2017)
- Pending sales: 2,362 (Up 3% compared to September 2017)