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SIGNS OF ANOTHER RECORD-BREAKING YEAR FOR AUSTIN REAL ESTATE SALES
On the national scale, there are rumblings of a market shift in the real estate market. However, at the local level, real estate sales remain strong. According to Steve Crorey, President of the Austin Board of REALTORS, "Sales are up 3.3 percent year-to-date for 2018”. The Austin-Round Rock MSA experienced growth in both the number of homes sold and the median sales price while the City of Austin revealed fewer sales, but a higher median price. As prices within the city limits continue to increase, buyers are moving farther out in search of an affordable home. In the Austin-Round Rock MSA, the sales volume increased slightly to 2,201 sales last month while the median home price increased to $301,391. As would be expected, there was an increase in all stages of listings year over year: new listings (+1.7%), active listings (+11.5%) and pending sales (+2.5%).
Within the City of Austin, median sales price rose 5% to $374,900. At the same time, November home sales in the City of Austin decreased from 653 sales in November 2017 to 618 sales in November 2018. The total sales dollar volume for the City of Austin remained the same at $288,251,771. In my opinion, the strength of the Austin real ... more
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