December 2017 Austin Market Report

Posted on Wednesday, January 24th, 2018 at 3:43pm.

December 2017 Austin Market Report

Even the cold weather can't put a stop to the hot Austin market! According to the latest numbers from the Austin Board of REALTORS®, the Austin area market saw increases across the board. Most counties in Central Texas saw an increase in single-family home sales, with the Austin-Round Rock area up 13% to 2,653 homes sold while the median home price rose 7% to $310,000. Despite the continuous rise in prices, pending sales for December increased by 24%. The month of December also yielded an increase in total dollar sales volume to $999 million. The home inventory level for the Austin area saw an increase this month with 2.1 months of inventory available, indicating a sellers' market according to the National Association of REALTORS®. Check out the newest numbers from the Austin Board of REALTORS® for December:

December 2017 Austin Area Market Statistics

  • 2,653 single-family homes were sold this December - 13% more than December 2016
  • The median price of a home increased 7% since last December to $310,000
  • Total dollar volume of single-family properties sold was $999 million for December 2017, up 19% from last year
  • Increase in the months of inventory since December 2016, settling at 2.1 months in December 2017
  • 71 days spent on the market in December 2017 compared to 61 days the previous year
  • 5,220 active listings during December 2017 - up 9% from December 2016
  • 3% increase in new listings for December 2017 for a total of 1,635 listings
  • 24% more pending sales than December 2016 with 1,971 in December 2017

2017 overall was another record-setting year for Austin area real estate. 30,059 homes were sold in 2017, which is the highest-ever recorded annual sales for the Austin market. Last year also marks the 7th straight year that Austin has seen an increase in annual home sales. Here are the year-end totals for 2017 from the Austin Board of REALTORS®:

Year-End 2017 Austin Area Market Statistics

  • 30,059 single-family homes were sold in 2017, or 2.4% more than 2016
  • The median price of a home in 2016 was 5.4% more than the previous year at $299,900
  • 2017 had a 1.5% decrease in inventory from 1.6% in 2016

Despite a prediction that 2017 would see a slow-down in the Austin real estate market, home sales were higher than ever! We can't wait to see what's in store for 2018. Whether you’re looking to buy or sell a home, our experienced agents would love to help you through the process. For buyers, our Austin home search is the best place to start. Our agents can set up email notifications to help stay on top of the latest homes for sale in your preferred neighborhood. If you’re thinking about selling, now is a great time make your move. Our expert agents can help you price your home correctly, market it effectively, and choose the best offer for your sale. Contact us for more information about buying or selling homes in the Austin area.

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