June 2018 Austin Market Report

Posted on Thursday, July 19th, 2018 at 12:03pm.

June 2018 Austin Market Report

We've just passed the halfway point of 2018, and Austin's real estate market is continuing to be one of the busiest in the country. Most counties in Central Texas saw a decrease in single-family home sales, with the Austin-Round Rock area down 3% to 3,299 homes sold while the median home price rose 5% to $326,000. Despite the continuous rise in prices, pending sales for June increased by 8%. The month of June also yielded an increase in total dollar sales volume to $1.4 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 June:

June 2018 Austin Area Market Statistics

  • 3,299 single-family homes were sold this June - 3% less than June 2017
  • The median price of a home increased 5% since last June to $326,000
  • Total dollar volume of single-family properties sold was $1.5 billion for June 2018, up 1% from last year
  • Increase in the months of inventory since June 2017, settling at 2.9 months in June 2018
  • 44 days spent on the market in June 2018 compared to 46 days the previous year
  • 7,378 active listings during June 2018 - down 1% from June 2017
  • 3% decrease in new listings for June 2018 for a total of 4,138 listings
  • 8% more pending sales than June 2017 with 3,201 in June 2018

This month’s report also included the mid-year statistics for 2018. So far, 15,364 single-family homes have been sold in the Austin area, which is 3.7% more than the same time in 2017. The median price of an Austin home has also increased 4.3% since last year to $313,000. With an 8.2% increase in total dollar sales volume for 2018 at the mid-year mark, Austin’s market seems on track to surpass the records from 2017. Take a look at the mid-year totals for 2018:

  • 15,364 single-family homes sold between January and June 2018, which is 3.7% more than the same time in 2017
  • 4.3% increase of the median price for single-family homes for mid-year 2018 at $313,000
  • 21,795 new single-family homes were listed on the market - 0.6% less than mid-year 2017
  • 5,951 active single-family home listings - a 0.8% decrease compared to the first half of last year
  • Total dollar volume of $6.025 billion in single-family homes sold – an 8.2% increase from 2017

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.

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