The Austin Board of Realtors® recently released good news that the summer selling season ended on a strong note in August 2016! The area continues to be a magnet for jobs and new business across multiple industries. Job creation continues to keep housing demand at an all-time high and inventory at near record lows despite an increase in the number of listings in the market.
August single family homes sales rose 5.3% and median price increased 9.4% across the Austin-Round Rock Metropolitan Statistical Area (MSA). Inventory rose to 2.8 months only changed by 1% and average days on market literally unchanged at 42 days.
Hays County took home the prize of the largest annual gain in August home sales where home sales jumped 23.2 percent driven by home sales in Buda and San Marcos where home sales experienced a 45.8% increase!
Single family homes sales in Williamson County and City of Austin remained flat. Buyers are moving out to find affordable housing and they love new construction homes! As new housing stock becomes available buyers are quickly scooping up the inventory.
Counties surrounding Austin are growing by leaps and bounds. The land may be flat and not in the hill country but homes there are affordable and all these new residents have to live somewhere! As in any growing city the outlining areas are choices that many new residents are considering. Development of these areas is crucial to satisfying the housing needs of so many. Builders can’t get on line with their product fast enough! Stay tuned to see how September numbers come in!
If you are a homeowner thinking of selling, a prospective buyer or just curious about real estate in NW Austin; I welcome the opportunity to discuss our market. Feel free to contact me at 512-346-1799 or email@example.com.