October 2018 Real Estate Market Update – Austin-Area

After a slow September, the Austin-area housing market rebounded in October. According to the October 2018 Central Texas Housing Market report released by the Austin Board of REALTORS®, both home sales and sales dollar volume were the highest on record for any October. These numbers indicate a strong demand for single-family homes and, while inventory did slightly increases across the market, there is still not enough supply to support the demand. What should you know as a resident of the area? Here’s a look at the October 2018 real estate market update:

October 2018 Real Estate Market Update

  • Austin-Round Rock MSA
    • 2,347 home sales – a 4.3 percent increase from October 2017 AND the highest number of sales for any October
    • $900 million in sales dollar volume – a 8.8 percent increase year-over-year
    • $308,355 median home sales price – a 7.5 percent increase from October 2017
    • 2,871 new listings – 3.7 percent increase year-over-year
    • 7,434 active listings – an 8.2 percent increase year-over-year
    • 2,444 pending sales – 2.8 percent increase from October 2017
    • 9 months of inventory
  • Williamson County
    • 780 home sales – 0.5 percent decrease year-over-year
    • $242 million in sales dollar volume – a 3.3 percent increase since last October
    • $281,250 median home sales price – 4.5 percent increase year-over-year
    • 963 new listings – a 2.6 percent decrease from October 2017
    • 2,595 active listings – a 12.2 percent increase year-over-year
    • 835 pending sales – a 2.1 percent increase from October 2017
    • 9 months of inventory

Meanwhile, Cedar Park and Leander experienced a decrease in home sales, 22.4 and 14.4 percent respectively.

Do you have any questions about the local housing market? As a longtime REALTOR® of the area, I am always here for you. Contact me anytime!

Do you know someone thinking about buying or selling? Send them my way. I would be honored to earn your endorsement and I will treat your referrals like family – you have my word!

Comments are closed.