December 2018 Austin Market Report

Posted on Tuesday, January 22nd, 2019 at 3:29pm.

December 2018 Austin Market Report

It was another record-breaking year for home sales in Austin! Though the market slowed down in December, numbers were up for 2018 overall. According to the latest numbers from the Austin Board of REALTORS®, most counties in Central Texas saw a decrease in single-family home sales, with the Austin-Round Rock area down 11% to 2,370 homes sold while the median home price decreased 1% to $305,000. Likely due to lower prices and greater demand, pending sales for December increased by 3%. The month of December also yielded an decrease in total dollar sales volume to $884 million. The home inventory level for the Austin area saw an increase this month with 2.3 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 2018 Austin Area Market Statistics

  • 2,370 single-family homes were sold this December - 11% fewer than December 2017
  • The median price of a home decreased 1% since last December to $305,000
  • Total dollar volume of single-family properties sold was $884 million for December 2018, down 11% from last year
  • Increase in the months of inventory since December 2017, settling at 2.2 months in December 2018
  • 67 days spent on the market in December 2018 compared to 72 days the previous year
  • 5,813 active listings during December 2018 - up 12% from December 2017
  • 2% increase in new listings for December 2018 for a total of 1,684 listings
  • 3% more pending sales than December 2017 with 1,955 in December 2018

2018 overall was another record-setting year for Austin area real estate. 30,713 homes were sold in 2018, which is the highest-ever recorded annual sales for the Austin market. Last year also marks the 8th straight year that Austin has seen an increase in annual home sales. Here are the year-end totals for 2018 from the Austin Board of REALTORS®:

Year-End 2018 Austin Area Market Statistics

  • 30,713 single-family homes were sold in 2018, or 2.1% more than 2017
  • The median price of a home in 2017 was 3.6% more than the previous year at $310,400
  • New listings increased by .8% to 38,870 in 2018

We can't wait to see what's in store for 2019. 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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