This week, the Austin Board of REALTORS® released the latest Central Texas housing statistics and the numbers indicate that housing sales are not slowing down as we head into fall.
Throughout central Texas, real estate sales dollar volume hit a highest-ever for the month this August. In the Austin-Round Rock Metropolitan Statistical Area (MSA), home sales reached over $1.2 billion and reflect a double-digit increase over the same time last year.
“We may likely see a strong fourth quarter for home sales this year due to our continued population growth. We’re also seeing more locals who are taking the opportunity to move up to a larger or newer home,” said David Brodsky, broker/owner of the Austin-based real estate brokerage, David Brodsky Properties. “Housing demand is still high and inventory is still low, so we’re likely to see strong sales numbers throughout the end of the year and into 2019.”
Austin-Round Rock MSA
Throughout the five-county MSA, Central Texas housing sales dollar volume reached $1,208,374,131 which is a 10.5 percent increase year-over-year. Increasing sales dollar volume in August was partially due to the increase of home sales prices, which saw an increase of 8.2 percent this August to reach $322,478. Single-family home sales increased 3.7 percent to reach 3,034 home sales in August, which set another record.
- Pending sales increased 12.1 percent year over year to 2,798 pending sales
- Active listings for the five-county MSA increased 4.2 percent to 7,887 listings
- New listings spiked 16 percent to 3,741 listings
- Monthly housing inventory remained unchanged from August 2017 at 3.1 months
“So far, 2018 has shown the highest number of sales ever for the Greater Austin area and we’re on track to set another annual home sales record this year,” Mark Sprague, state director of information capital for Independence Title, said. “Interest rates are expected to go up one-eighth of a point by the end of the year, and another three-eighths to a half of a point next year. Because median household income has increased nationally and locally, rising interest rates are not expected to negatively impact home sales.”
City of Austin
Home sales numbers were unchanged in the City of Austin this August. However, home sales prices increased almost 10 percent while new listings jumped. Pending sales were also up over last year.
- Home sales numbers were unchanged from last August at 901 sales
- Sales dollar volume increased 11 percent to $446,067,482
- The median price for single-family homes increased 9.2 percent to $393,000
- New listings increased 10.5 percent to 1,045 listings
- Active listings decreased 8.2 percent to 1,735 listings
- Pending sales increased 8.7 percent to 824 home sales
- Monthly housing inventory decreased by 0.2 months to 2.2 months of inventory
Single-family home sales in Travis County were up slightly this August. New listings jumped throughout the county and active listings declined. There was a spike in pending sales which will likely bolster Travis County home sales in September.
- Single-family home sales slightly increased 1.1 percent year over year to 1,449 home sales Sales dollar volume increased 8 percent to $699,354,068
- The median price for single-family homes rose 7.2 percent to $375,000
- New listings jumped 15.1 percent to 1,780 listings
- Active listings declined 1.9 percent to 3,636 listings
- Pending sales spiked 15.2 percent to 1,363 sales
- Monthly housing inventory decreased 0.1 months year over year to 2.9 months of inventory
Home sales growth was strong throughout Williamson County this August.
- Single-family home sales rose 7.3 percent year over year to 1,089 home sales
- Sales dollar volume experienced a double-digit growth of 13.9 percent to $347,227,983
- The median price for single-family homes increased 7.2 percent to $294,612
- New listings spiked 18.5 percent to 1,358 listings
- Active listings increased 8.5 percent to 2,724 listings
- Pending sales climbed 5 percent to 968 pending sales
- Housing inventory remained unchanged from August 2017 at 3.0 months
Single-family home sales growth was modest in Hays County. However, sales dollar volume made a double-digit increase this August over last.
- Single-family home sales rose 2 percent to 353 sales in August 2018
- Sales dollar volume increased 10.9 percent to $124,761,539
- The median price for single-family homes jumped 13.3 percent year over year to $294,659
- New listings rose 8 percent to 417 listings
- Active listings increased 7.5 percent to 1,065 listings
- Pending sales jumped 15.6 percent to 326 sales
- Housing inventory increased 0.1 months to 3.6 months of inventory
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