Home sales across the Austin-Round Rock MSA have increased in January while new real estate listings decreased by nearly 8 percent. This marks the second consecutive year in which Austin home sales have increased in the month of January which is typically a relatively slow month for real estate sales. The first 2018 Austin area real estate market report from the Austin Board of REALTORS® (ABoR) shows strong real estate numbers that indicate another great year for the local real estate market.
This January, there were 1,655 single-family homes sold, compared to 1,549 the same month a year earlier. This represents an increase of 8.5 percent. Austin area single-family home sales dollar volume increased 10.6 percent to reach approximately $594 million in January 2018. Total dollar volume of homes sold in 2017 was $552 million. This represents a whopping 19 percent increase over January 2016.
Although existing real estate listings throughout the Austin-Round Rock MSA increased by 4.2 percent in January 2018, new real estate listings declined by 7.9 percent. Homes took longer to sell, averaging 68 days on the market in January 2018 versus 60 days on the market in January 2017.
“Strong real estate sales in January can set the stage for a strong year,” said David Brodsky, broker/owner of the boutique real estate firm, David Brodsky Properties. “Our brokerage has seen two very strong months in January 2017 and 2018. Last year was a great year for real estate and market growth was bolstered by a strong start. This year, we may be able to see similar real estate growth due to an even stronger January market report and continued good local economic indicators.”
A lack of supply continues to be the underpinning that sustains continued Austin area real estate growth. In January 2018, inventory remained relatively unchanged from the year before. This January, statistics show 1.9 months of Austin area housing inventory. Last January, housing levels reached 2.0 months of inventory in the Austin-Round Rock MSA. Inventory at current levels falls significantly short of the 6.0-6.5 months of inventory that the Real Estate Center at Texas A&M University considers a balanced housing market.
Austin-Round Rock MSA Real Estate Statistics
- Median price for single-family homes reached $290,000, which is a 4 percent increase year-over-year
- Single-family homes sold increased 9 percent to 1,655
- New real estate listings were down 8 percent to 2,316 new listings this January
- Active listings increased 4 percent to 4,876
- Pending sales increased 12 percent to 2,365
- Total dollar volume of home sales increased 11 percent to approximately $594 million
City of Austin Real Estate Statistics
- Median price for single-family homes reached $347,000, up 10 percent over last January
- Single-family homes sold increased 2 percent to 482
- New real estate listings were down this January by 13 percent to 619 new listings
- Active listings were down 7 percent to 977 listings
- Pending sales increased 12 percent to 2,365
- Total dollar volume of home sales increased 4 percent to $199 million
Hays County Real Estate Statistics
- Median price for single-family homes increased 13 percent to $259,743
- Single-family homes sold increased 15 percent to 199
- New real estate listings were down 9 percent this January to 286 new listings
- Active listings increased 3 percent to 674 listings
- Pending sales increased 16 percent to 270
- Total dollar volume of home sales increased 25 percent to $63.3 million
Travis County Real Estate Statistics
Median price for single-family homes reached $329,700 in January, which is up 6 percent over the year before
- Single-family homes sold increased 6 percent to 794 homes sold
- New real estate listings were down 11 percent to 1,117 new listings this January
- Active listings increased about 1 percent to 2,234 listings
- Pending sales increased 7 percent to 1,146
- Total dollar volume of home sales increased 3 percent to $327 million
Williamson County Real Estate Statistics
- Median price for single-family homes was up 1 percent this January to $270,215
- Single-family homes sold increased 10 percent to 579 homes sold
- New real estate listings were down 6 percent to 791 new listings
- Active listings increased 11 percent to 1,690 listings
- Pending sales increased 20 percent to 844
- Total dollar volume of home sales increased 17 percent to $179 million
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