All-Time High for September Austin Home Price
The Austin median home price reached an all-time high in September 2019, rising 11.9 percent year over year to a price of $406,000, according to the latest Austin Board of REALTORS® Central Texas Housing Market Report. The city experienced a 14.8 percent year over year increase in home sales, with a 23.3 percent increase in sales dollar volume.
Austin also experienced a 24 percent decrease in active listings, a 20.3 percent increase in pending sales, and flat new listings compared to this time last year. Housing inventory dipped remarkably low, with a 0.5-month decrease to a total of 1.6 months of inventory.
“The adverse effect of low housing stock within the Austin area is higher home prices,” said ABOR President Kevin P. Scanlan.
ABOR CEO Emily Chenevert said the organization will support, as a potential solution, a land use code which “does not infringe on the private property rights of existing owners, embraces the unique character of our community and promotes all types of housing across the city.”
In the Austin-Round Rock Metropolitan Statistical Area, home sales increased 13.4 percent, and sales dollar volume increased 19.6 percent. Median price also was up, increasing 6.7 percent to $320,000. Active listings in the Austin-Round Rock MSA decreased 11.7 percent year over year, while pending sales increased 27.8 percent, and new listings increased 9.5 percent. Housing inventory decreased 0.4 months to 2.5 months.
In Williamson County, home sales were up 22 percent, and median price increased 6.1 percent to $295,000. Inventory was down 0.5 months to 2.5 months. In Hays County, home sales were up 9.7 percent, and median price increased 5.2 percent to $269,950. Inventory was down 0.2 months to 3.1 months.
Austin-area September 2019 Sold Homes
- Number of sold homes: 2,654 (Up 13% compared to September 2018)
- Median sold price: $320,000 (Up 7% compared to September 2018)
- Days on the market: 49 (Down 7 days compared to September 2018)
Austin-area September 2019 Single-Family Homes on the Market
- New listings: 3,047 (Up 10% compared to September 2018)
- Active listings: 6,686 (Down 12% compared to September 2018)
- Pending sales: 2,861 (Up 28% compared to September 2018)