July 2017 Austin Market Report

Posted on Thursday, August 17th, 2017 at 3:12pm.

July 2017 Austin Market Report

July was an exciting month for Austin real estate! According to the latest numbers from the Austin Board of REALTORS®, the Austin area market saw increases across the board. Single family home sales increased 3% to 2,892 homes sold. The median home price also rose 5% to $301,332. Despite the continuous rise in prices, pending sales for July increased by 5%. The month of July also yielded a 12% increase in total dollar sales volume to $1.12 billion. The home inventory level for the Austin area saw the biggest increase this month with 3.2 months of inventory available. Although this number is still below the balanced home inventory level of 6 months, this is the highest level of inventory seen since 2012. Check out the newest numbers from the Austin Board of REALTORS® for July:

July 2017 Austin Area Market Statistics

  • 2,892 single-family homes were sold this July - 3% more than July 2016
  • The median price of a home increased 5% since last July to $301,332
  • Total dollar volume of single-family properties sold was $1.12 billion for July 2017, up 12% from last year
  • Increase in the months of inventory since July 2016, settling at 3.2 months in July 2017
  • 44 days spent on the market in July 2017 compared to 41 days the previous year
  • 7,965 active listings during July 2017 - up 17% from July 2016
  • 4% increase in new listings for July 2017 for a total of 3,864 listings
  • 5% more pending sales than July 2016 with 2,948 in July 2017

July’s incredible increase in available home inventory can be attributed to the brand new developments popping up in Austin’s suburbs. Leander, Cedar Park, Kyle, Buda, and Georgetown have new homes breaking ground in master-planned communities like Travisso, Sarita Valley, Water Oak at San Gabriel, and more. Whether you’re looking for a brand new home or an established residence in the Austin area, our innovative Austin home search is the best place to start. Our experienced 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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