Austin-Round Rock Real Estate Market Update - February 2018 Home Sales Statistics
Even though February is typically a “slow” month for home sales, the Austin-Round Rock real estate market didn’t show any signs of slowing, according to the latest report from Austin Board of REALTORS®. While home sales volume across the Austin-Round Rock Metropolitan Statistical Area (MSA) grew, pocket areas with the lowest inventory and highest market demand experienced double-digit percent price increase with declines in sales activity due to inventory shortages.
The median price for single-family homes in the Austin-Round Rock area jumped 3.6% percent from $289,000 to $300,000 year-over-year, while the days on the market crept up six days from 65 to 71 during the same period.
“Last month, economists predicted an upwards of 5 percent growth in median home prices within the Austin area, and we have far surpassed that,” Steve Crorey, 2018 president of the Austin Board of REALTORS®, said. “This is especially evident in local markets where housing demand is strongest, such as Austin and Cedar Park. Home price increases are sharpest in these markets while dwindling housing inventory in the lower price classes could be discouraging people from buying.”
If you have questions about what these figures for the Austin-Round Rock housing market mean for your home, please reach out to me anytime.
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