March 2018 Austin Market Report

Posted on Monday, April 23rd, 2018 at 9:13am.

March 2018 Austin Market Report

Though some numbers are down from last year, Austin is still seeing a rise in activity in the real estate market. Most counties in Central Texas saw an increase in single-family home sales, with the Austin-Round Rock area up 11% to 2,714 homes sold while the median home price rose 4% to $305,000. Despite the continuous rise in prices, pending sales for March increased by 7%. The month of March also yielded an increase in total dollar sales volume to $1.1 billion. The home inventory level for the Austin area saw a slight decrease with 2.2 months of inventory available. Check out the newest numbers from the Austin Board of REALTORS® for March:

March 2018 Austin Area Market Statistics

  • 2,714 single-family homes were sold this March - 11% more than March 2017
  • The median price of a home increased 4% since last March to $305,000
  • Total dollar volume of single-family properties sold was $1.1 billion for March 2018, up 18% from last year
  • Decrease in the months of inventory since March 2017, settling at 2.2 months in March 2018
  • 61 days spent on the market in March 2018 compared to 58 days the previous year
  • 5,640 active listings during March 2018 - down 2% from March 2017
  • 3% decrease in new listings for March 2018 for a total of 4,008 listings
  • 7% more pending sales than March 2017 with 3,049 in March 2018

The spring selling season is here, which means the real estate market is getting busier than ever! 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 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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