Austin area home sales are up 4 percent year-over-year, pushing up the median sales price for local Austin housing this May. According to the most recent report from the Austin Board of REALTORS®, the increase in median sales price for homes in the Austin area is a result of continued high demand for local housing as development lags. As a result, home values are seeing some of their strongest gains. The situation is especially apparent in the City of Austin, where median sales price has reached a record high of $389,000 in May.
“We’re seeing a very competitive market right now. It’s more important than ever for both buyers and sellers to have strong representation when they enter the market,” said David Brodsky, broker/owner of David Brodsky Properties, a boutique real estate brokerage in Austin. “Buyers need to compete with each other over low housing supply, while sellers need to ensure that they are accepting the most suitable offers for their situation. It can become more challenging than consumers are aware.”
Courtney Unangst, Accredited Buyer Representative and Master Certified Negotiation Expert, has experienced hurdles on both sides of a real estate transaction. “In today’s market, sellers need to enter the market with a solid game plan and strong agent on their real estate team to help them avoid negotiation errors that can sabotage a real estate transaction. Sellers only have one opportunity to strike the right combination of price and condition, so why not get it right the first time?”
“An expert Austin area real estate strategist can not only empower consumers with the knowledge they need to be best positioned in the market, but also utilize an agent’s skills to help ensure that all aspects of a real estate negotiation will work out to the best result for both sides and within the timeframe that works for both parties,” said Unangst.
Austin Area Real Estate Statistics
- 3,210 single-family homes were sold in the Austin Round Rock Metropolitan Statistical Area (MSA) this May, up 4 percent from the year before.
- Median sales price for single-family homes is up 5 percent this May over last May, reaching $325,000.
- Housing Inventory is down 0.1 months to 2.7 months. According to the Real Estate Center at Texas A&M University, a balanced market constitutes 6.5 months of inventory.
City of Austin Housing Statistics
- 1,037 single-family homes were sold in the City of Austin. Home sales in the city are up 6 percent over the same time last year.
- Median sales price for single-family homes in the city reached $389,000, up 4 percent over last year and the highest ever for Austin.
- Housing inventory is down 0.1 months to 2.0 months of housing inventory for the City of Austin this May.
Travis County Real Estate Statistics
- The number of homes sold in Travis County is up 6 percent year-over-year to 1,618 homes sold in May.
- Travis County single-family homes sold for a median price of $375,000 which is up 3 percent from last May.
- Housing inventory is down 0.2 months this May to 2.6 months of inventory.
Williamson County Real Estate Statistics
- Home sales were relatively flat in Williamson County this May, up 1 percent to reach 1,104 single-family home sales.
- Median sales price for single-family homes reached $303,500, which is up 7 percent over last year.
- Housing inventory in Williamson County is up 0.1 months to reach 2.6 months in May.
Hays County Real Estate Statistics
- Single-family home sales jumped 14 percent to 369 homes sold in May.
- Median sales price for Hays County single-family homes reached $272,990, which is a 6 percent increase over last year.
- Housing inventory is down 0.1 months to 3.1 months of single-family housing inventory in Hays County.
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