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Austin area real estate sales are in for December 2018
The Austin Board of Realtors® just released December of 2018 market stats which showed a decrease in the median price for single family homes in the Austin-Round Rock MSA (metropolitan statistical area) by .8%. Kevin P. Scanlan the 2019 Austin Board of Realtors® stated “2018 was the highest grossing year on record and for the first time ever the median price for single family homes in the Austin-Round Rock MSA stayed above $300,000 for 10 consecutive months.”
Mark Sprague, State Director of Information Capital at Independence Title, commented “Annual sales are still ahead of where we were last year and I don’t think 2019 will be any different. Austin’s strong gross domestic product growth will continue to drive out region’s job growth and need for housing.”
Active listings rose by 2% in December and pending sales were up by 3% with months of inventory still holding steady at 2.3 months.
I think Mark Sprague makes a good point when he says “Last November, we began to see fewer listings on the MLS which is typical of a seasonal slowdown during the holidays. It’s also likely that people are staying in their homes longer to watch their investment increase and to keep their current interest ... more
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