After a modest real estate report in January this year, Austin real estate numbers have rebounded and hit a record high for any February on record. The most recent report from the Austin Board of REALTORS® (ABoR) shows that single-family home sales increased by 6 percent this February over last. Additionally, the report points out a rise in both active listings and inventory. An increase in the two real estate statistics indicates that the Austin area real estate market is balancing out.
“There was a lot of real estate activity in the Austin area this February as a result of pending sales from the beginning of the year,” said David Brodsky, broker/owner of David Brodsky Properties. “Pending sales were up 10 percent in January and new listings were up a whopping 21.6 percent. Both helped to bolster February sales numbers,” Brodsky explained. “Buyer demand remains strong due to a continually strong job market.”
Kevin P. Scanlan, president of Austin Board of REALTORS®, shared his observations on the increased sales activity, particularly in the suburbs. “We’re seeing a lot of development in North Austin, as major tech employers are looking for space with ample room for housing development and access to major transportation arterials.”
Austin-Round Rock MSA
Home prices across the Austin-Round Rock MSA decreased this February, prompting Scanlan to share his insight into what the dip in sales prices could mean for Austin real estate.
“While demand remains strong due to population growth, this is no longer a market where homes sell significantly above listing price. Housing affordability challenges might be limiting what consumers are able to pay for a home,” Scanlan said.
- Median sales price decreased by 0.3 percent from $296,000 in February 2018 to $295,000 in February 2019
- Sales dollar volume increased year over year by 4.8 percent to $773,977,296
- New listings rose 7.3 percent to 3,015 listings
- Active listings increased 18.9 percent to 5,858 listings
- Pending sales increased 16.6 percent to 2,715 pending sales
- Monthly housing inventory increased by 0.3 months to 2.3 months of inventory
City of Austin
In the city of Austin, single-family home sales increased while the median home price decreased. Both pending sales and new listings were also up. Monthly housing inventory was also up, reaching 1.4 months of inventory.
- Single-family home sales increased by 7.3 percent to 649 sales in February
- Sales dollar volume increased 8.6 percent to $295,517,930
- Median sales price decreased by 1.6 percent to $360,000
- New listings increased 1 percent to 832 listings
- Active listings increased 7.3 percent to 1,097 listings
- Pending sales increased 13.4 percent to 771 pending sales
- Monthly housing inventory increased 0.1 months to 1.4 months of inventory
In Travis County, single-family home sales increased along with median sales price. New listings were up nearly 6 percent and pending sales increased. Monthly housing inventory increased slightly to 2.0 months of inventory.
- Single-family home sales increased in Travis County by 1.5 percent to 986 sales
- Sales dollar volume increased by 1.3 percent to $436,338,563
- Median sales price rose 1.2 percent year over year to $344,000
- New listings increased 5.8 percent to 1,502 listings
- Active listings increased 10.8 percent to 2,518 listings
- Pending sales rose 11.8 percent to 1,303 pending sales
- Monthly housing inventory increased 0.2 months year over year to 2.0 months of inventory
Throughout Williamson County, February single-family home sales were up. Median sales price showed somewhat modest gains while active listings went up. Pending sales also increased along with housing inventory.
- Single-family home sales increased 7.7 percent to 760 sales
- Sales dollar volume increased by 8.1 percent to $231,764,531
- Median price increased 2.8 percent to $279,500
- New listings increased 4.7 percent to 1,009 listings
- Active listings jumped 20.1 percent to 2,067 listings
- Pending sales skyrocketed 19.2 percent to 945 pending sales
- Housing inventory increased 0.4 months to 2.3 months of inventory
There were some strong gains in home sales statistics in Hays County this February. Sales numbers were up across the board for Hays County real estate.
- Single-family home sales increased 16.1 percent to 260 sales in February
- Sales dollar volume increased 9.8 percent to $83,008,017
- Median price rose year over year by 4.5 percent to $262,000
- New listings increased 17.6 percent to 375 listings
- Active listings rose sharply by 32.8 percent to 882 listings
- Pending sales experienced a double-digit increase of 23.1 percent to 346 pending sales
- Housing inventory increased 0.7 months to 3.0 months of inventory
In February, Bastrop County made a big gain in single-family home sales. There was also a steep increase in sales dollar volume and new listings. Active listings were up nearly 50 percent and inventory levels made moderate gains.
- Single-family home sales increased 32.2 percent to 78 sales
- Sales dollar volume increased 41 percent to $18,842,816
- Median price increased 8.8 percent to $233,989
- New listings rose 32.1 percent to 107 listings
- Active listings rose 49.5 percent to 302 listings
- Pending sales rose 42.7 percent to 97 pending sales
- Inventory levels increased 1.1 months to 3.5 months of inventory
In Caldwell County, February home sales numbers were up this February. Sales dollar volume made strong gains. Housing inventory increased and pending sales were up.
- Single-family home sales decreased 19.1 percent to 17 sales
- Sales dollar volume dropped 15 percent to $3,676,733
- Median home price increased 16.1 percent to $213,628
- New listings dropped 18.5 percent to 22 listings
- Active listings increased 29 percent to 89 listings
- Pending sales increased 14.3 percent to 24 pending sales
- Housing inventory increased 1.5 months to 3.8 months of inventory
Read more about Austin real estate.