June 2017 Austin Market Report

Posted on Friday, July 21st, 2017 at 12:28pm.

June 2017 Austin Market Report

We’re halfway through 2017, and Austin home sales are on the rise! According to the latest report from the Austin Board of REALTORS®, 3,415 home sales were recorded in June. This 4% increase over last year shows the Austin market is on track for another successful year. The median price of single-family homes in the Austin area also rose 7% to $314,000. Although median home prices have continued to rise each month, that hasn’t stopped the numbers for new listings, active listings, and pending sales from rising. June also recorded available housing inventory in the Austin area at 3.1 months, which is just over half of the 6.0-month level that is considered a balanced market. Take a look at the latest stats from the Austin Board of REALTORS®:

June 2017 Austin Area Market Statistics

  • 3,415 single-family homes were sold last month, or 4% more than June 2016
  • $314,000 was the median price for a home in June 2017, which is 7% more than June 2016
  • 3.1 months of inventory available in June 2017, 0.5 months more than June 2016
  • Homes spent 45 days on average on the market last month, or 2 days longer since June 2016
  • 6% increase in new listings from June 2016 to 4,335 new listings in 2017
  • 7,672 active listings in June 2017, which is a 19% increase from June 2016
  • 3, 148 pending sales in June 2017, or 9% more than June 2016
  • 12% increase in total dollar sales volume in June 2017 to $1.35 billion 

This month’s report also included the mid-year statistics for 2017. So far, 14,958 single-family homes have been sold in the Austin area, which is 3% more than the same time in 2016. The median price of an Austin home has also increased 6% since last year to $300,000. With a 10% increase in total dollar sales volume for 2017 at the mid-year mark, Austin’s market seems on track to surpass the records from 2016. Take a look at the mid-year totals for 2017:

  • 14,958 single-family homes sold between January and June 2017, which is 4% more than the same time in 2016
  • 6% increase of the median price for single-family homes for mid-year 2017 at $300,000
  • 22,293 new single-family homes were listed on the market - 9% more than mid-year 2016
  • 6,153 active single-family home listings - a 15% increase compared to the first half of last year
  • Total dollar volume of $5.62 billion in single-family homes sold – a 10% increase from 2016

Based on these numbers, we can expect real estate activity to continue to grow in the Austin area at a modest, steady rate. The increase in available inventory and longer days on the market this month are signs that the Austin market could be slowly making its way toward a balanced level between buying and selling. If you’re thinking about purchasing a home, it’s not too late to find a new home just in time for the new school year. Our agents are Austin experts and can help you find your dream home at the right price for your budget. Use our Austin Neighborhoods Guide to get to know over 2,200 unique communities in the area. If you’re considering selling, why not take advantage of the strong market? Our agents have all the skills you need on your side to successfully list your home at a competitive price. Contact us to start working with one of our top agents.

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