July 2018 Austin Market Report

Posted on Thursday, August 16th, 2018 at 12:36pm.

July 2018 Austin Market Report

Demand continues to be high for housing in Austin while inventory is starting to fall, leading to increased pending sales and decreased active listings. Most counties in Central Texas saw an increase in single-family home sales, with the Austin-Round Rock area up 9% to 3,103 homes sold while the median home price rose 6% to $320,000. Despite the continuous rise in prices, pending sales for July increased by 11%. The month of July also yielded an increase in total dollar sales volume to $1.3 billion. The home inventory level for the Austin area saw a slight decrease with 2.9 months of inventory available. Check out the newest numbers from the Austin Board of REALTORS® for July:

July 2018 Austin Area Market Statistics

  • 3,103 single-family homes were sold this July - 9% more than July 2017
  • The median price of a home increased 6% since last July to $320,000
  • Total dollar volume of single-family properties sold was $1.3 billion for July 2018, up 14% from last year
  • Decrease in the months of inventory since July 2017, settling at 2.9 months in July 2018
  • 44 days spent on the market in July 2018, the same as the previous year
  • 7,522 active listings during July 2018 - down 3% from July 2017
  • 1% decrease in new listings for July 2018 for a total of 3,738 listings
  • 11% more pending sales than July 2017 with 3,065 in July 2018

Despite the rise in home prices, Austin's pending sales are higher than ever! It's a great time to buy or sell in Austin, and our 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 to 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.

Leave a Comment