Central Texas Real Estate Market Update – August 2017
The Central Texas area witnessed its hottest season ever – and no, we aren't talking about the weather. Instead, we are referring to the housing market – yes, it just keeps getting hotter! According to the August 2017 Report released by the Austin Board of REALTORS®, single-family home sales and median home price increased, while home sales volume topped $1 billion for the fourth consecutive month – making this summer the highest-grossing selling season in the Central Texas region’s history! What else is happening in our local real estate market? The following reveals how the real estate market performed in August 2017:
City of Austin
Across the board, it appears monthly housing inventory levels have increased slightly. The increase in inventory could signal a normalized market is on the horizon. This is good news to homebuyers around the Austin area. As inventory increases so does median home value. The increase in home price amplifies the concern for affordable housing options for homebuyers in the Austin area. Where can you find affordable housing? Live outside the Austin city limits…possibly within Williamson County. Great neighborhoods north of the city include Cedar Park, Round Rock, Leander, Georgetown, etc. In addition to more affordable home prices, these areas also offer great amenities and excellent school districts.
If you’re searching for a home in the greater Austin area, I can help! Give me a call today to get started!
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