November 2018 a Record breaking month in Austin Area real estate

By
Real Estate Agent with Coldwell Banker United Realtors® ~ 512.750.6899

November 2018 is another Record breaking month in Austin Area real estate

The stats for the Austin Area are in for November 2018 and looks like the real estate market continues in an upward direction. The median price is up 2%, the number of home sales is up 1% with the total dollar of home sales up 6% to a whopping 839 million. The number of days on market is only up 3 days and inventory of homes is under 3 months therefore still a seller’s market.

Sometihing to watch is active listings are up 12% over last year and pending sales are up 3%. There are more options for buyers looking over the holidays. However buyers are not in a hurry to make a decision and are not accepting homes priced too high or not perceived as a good value.

A key driver of Austin’s 2018 economy is the creation of jobs. Austin is the second fastest rate of job creation in the nation! Unemployment is among the tops in the nation sitting at below 3%.

We are officially getting a new soccer team near Midtown and Apple just announced a $1 Billion investment in a new campus in North Austin. Governor Greg Abbot stated "This truly elevated Austin as one of the premier technology hubs in the entire world.” More tech firms and top talent are attracted to Austin. Even UT Austin will have the ability to attract lead faculty. The next year and beyond for Austin’s economy is looking good. 82 net people a day are moving to Austin which means they need a place to live.

Steve Crorey, President of the Austin Board of Realtors says: “Families and young professionals continue to move to the suburbs where there are more opportunities for home ownership at a more reasonable price point than in the city of Austin. While home sales growth isn’t as rapid in the city, demand is still strong. Analysts predict Austin will be a market to watch in 2019.”

According to Mark Sprague, Director of Information Capitol at Independence Title, “There is no better time to buy!” The data is in and Austin real estate is a bright spot in the country.

The Fed just said they could re-evaluate the interest rate policy in the New Year if slowing occurs. I’ll be anxious to see what January brings, watchfully optimistically.

All communities are not created equal so while the Austin Area is thriving there are sectors where days on market are elevated and taking longer to receive an offer. If you’re a home owner in NW Austin thinking of selling your home I can help. If you’re a buyer reach out to me and Let’s talk!

Selling or buying a NW Austin home is a complex process and you want to work with a REALTOR that understands the process and can connect you with other professionals that realize the importance of contract contingencies, customer service and are laser focused on closing on time every time.  Reach out to me at 512-346-1799 or dillard@reloaustin.com.

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Topic:
Real Estate Market Trends
Location:
Texas Travis County Austin
Groups:
Realtors®
All Thing's Texas
All Real Estate - Today and Tomorrow
City and State Community & Marketing Reports
2018 Market Reports
Tags:
market report
austin texas
real estate
november statistics
nw austin
independence title
mark sprague
steve crorey

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Rainmaker
4,796,914
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Dorie.  Thanks for keeping us informed about the record breaking real estate market in Austin.

 

Dec 23, 2018 06:41 AM #1
Rainmaker
541,166
Maria Sapio
Keller Williams of Central PA - Carlisle, PA
Real Estate Agent- Carlisle, PA. Mariasapio.com

Wishing you a joyful holiday season filled with memorable moments!

Dec 23, 2018 06:52 AM #2
Rainmaker
4,401,298
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Dorie,

This just goes to show that all markets differ even in the same city.  Wishing you and yours a wonderful Christmas holiday.  A

Dec 23, 2018 07:29 AM #3
Rainmaker
3,796,004
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Hi Gabe Sanders : Thank you for stopping by.

Hi Maria Sapio : The same to you and your family!

Hi Ron and Alexandra Seigel: Many younger buyers many don't want the suburbs they want to be more in the city but prices are always higher closer in..its an interesting market..lots of investors out right now. Hoping for a wonderful Christmas Holiday to you.

Dec 23, 2018 07:53 AM #4
Rainmaker
4,064,340
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Dorie, so glad to hear Austin is having a good market this time of year, and hope this continues into 2019!

Dec 23, 2018 08:01 AM #5
Rainmaker
3,796,004
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Hi Joan Cox : The people keep coming with all the jobs created here so I expect 2019 to be another record setting year!

Dec 23, 2018 08:10 AM #6
Ambassador
3,965,518
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Dorie

Those are pretty impressive statistics. Buyers and sellers will this very through update! Have a wonderful holiday!

Jeff

Dec 23, 2018 08:16 AM #7
Rainmaker
3,796,004
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Hi Jeff Dowler, CRS : Thank you the same to you!

Dec 23, 2018 01:18 PM #8
Ambassador
3,781,001
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Dorie good to hear that the real estate market is still thriving in the Austin area.

Dec 23, 2018 03:31 PM #9
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Rainmaker
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Dorie Dillard CRS GRI ABR

Serving Buyers & Sellers in NW Austin Real Estate
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