Following a month of flat home sales throughout the Austin-Round Rock Metropolitan Statistical Area (MSA), home sales rebounded and set an all-time record for the month of October. Recent statistics from the Austin Board of REALTORS® shows that the sales dollar volume also set an all-time record for the month. The combination of the two statistics reaching a new high for October shows that Austin real estate is getting off to a very strong start in the fourth quarter and could possibly maintain a steady pace into the new year.
“Austin’s housing market is built on a strong foundation of stable economic growth. Housing demand increases as jobs become available and we can see from the most recent jobs report that Austin is still adding jobs at a pretty rapid clip,” explained David Brodsky, broker/owner of Austin real estate brokerage David Brodsky Properties.
“Despite the fact that we didn’t get either Amazon HQ2, we still gained 1200 jobs from Amazon in October as a result of the San Marcos fulfillment center expanding,” he said. “Many other companies are expanding in our region, which is creating more jobs that attract newcomers. As a result, we’ve seen nearly 4 percent job growth through September and now we’ve got an all-time high for home sales in October. Our economy is still showing strong growth, so our real estate market will likely follow suit, barring any unforeseen economic calamities.”
Austin-Round Rock MSA Real Estate Statistics
Throughout the Austin-Round Rock MSA, sales volume grew by 4.3 percent year over year to reach 2,347 home sales last month compared to 2,250 home sales last year. Sales dollar volume reached $901,408,403, which reflects an 8.8 percent increase over last October. Inventory remained flat, with a 0.1 percent increase to reach 3.0 months of inventory.
- Median home price reached $308,355
- New listings increased by 3.7 percent year over year to 2,871 listings
- Active listings increased 8.2 percent to 7,434 listings
- Pending sales increased 2.8 percent to 2,444
- Monthly housing inventory increased by 0.1 months to 2.9 months
City of Austin Real Estate Statics
Home sales in the City of Austin showed strong increases. Home sales increased 7.8 percent to 735 home sales in October. Sales dollar volume increased 11.9 percent to $342,644,303 in the same timeframe. The median price of single-family homes rose 3.7 percent to $377,000.
- New listings increased 5 percent to 878 listings
- Active listings decreased 5.4 percent to 1,643 listings
- Pending sales decreased 2.2 percent to 711 pending sales
- Monthly housing inventory decreased by 0.2 months to 2.1 months of inventory
Travis County Real Estate Statistics
Throughout Travis County, home sales rose less drastically than in the City of Austin but showed strong growth overall. Single-family home sales increased 6.2 percent from last October to reach 1,176 home sales. However, sales dollar volume jumped 10.9 percent from last year to reach $537,493,050.
- Median price for single-family homes rose 5.5 percent to $358,540
- New listings increased 5.1 percent to 1,417 listings
- Active listings increased 1.2 percent to 3,374 listings
- Pending sales increased 3.3 percent to 1,198 pending sales
- Monthly housing inventory decreased 0.1 months year over year to 2.6 months of inventory
Williamson County Real Estate Statistics
Home sales in Williamson County broke with regional convention in October. In contrast to other counties in the region, home sales decreased 0.5 percent in Williamson County this October. Sales dollar volume was up 3 percent to reach $243,000,000 this October. The median sales price for a single-family home increased 4.5 percent to $281,250.
- New listings decreased 2.6 percent to 963 listings
- Active listings increased 12.2 percent to 2,595 listings
- Pending sales increased 2.1 percent to 835 pending sales
- Housing inventory increased 0.2 months year over year to 2.9 months of inventory
Hays County Real Estate Statistics
In Hays County, home sales rose while the median home price decreased slightly. Single-family home sales increased 8.1 percent to 280 sales in October 2018. Sales dollar volume increased 9.2 percent to $93,256,225. The median price for a single-family home decreased 1.5 percent to $250,000.
- Median price for a single-family home decreased 1.5 percent to $250,000
- New listings spiked 25.9 percent to 370 listings
- Active listings experienced a double-digit increase of 18.9 percent to 1,039 listings
- Pending sales increased 3.6 percent to 291 pending sales
- Housing inventory increased 0.4 months to 3.5 months of inventory
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