May 2017 Austin Market Report

Posted on Thursday, June 15th, 2017 at 2:41pm.

May 2017 Austin Market Report

According to the latest report from the Austin Board of REALTORS®, May was another record-setting month for Austin real estate! Rising home sales and home prices made May the highest-grossing month for the Austin area with $1.23 billion in dollar sales volume! Home sales for May rose 9% since last year to a total of 3,170. Home prices also continued to rise to $310,000 (an increase of 8% since 2016). Numbers for new, active, and pending listings each rose by 15%, 22%, and 6%, respectively. The increase in new and active listings also helped drive up the available home inventory in the Austin area to 2.8 months last month. All of this activity shows the Austin market is still going strong. Check out the latest stats from the Austin Board of REALTORS® for May:

May 2017 Austin Area Market Statistics

  • 9% increase in total single-family homes sold since May 2016 at 3,170 homes
  • Median sales price of a home was $310,000 last month, which is 8% more than May 2016
  • Total dollar sales volume for single-family homes increased 18% in May 2017 to $1.23 billion
  • 0.4 increase in months of inventory available last May at 2.8 months
  • Homes spent 1 less day on the market with an average of 43 days in May 2017
  • 15% increase in new listings for May 2017 at 4,369 listings
  • 22% increase in active listings since May 2016 with 6,972 listings in May 2017
  • 3,437 pending sales in May 2017, or about 6% more than May 2016

As we predicted, the summer selling season is hotter than ever in the Austin area. It’s exciting to see so much activity happening in Austin’s real estate market. Sellers, if you’re thinking about listing your home, now is the time to make your move! The demand for Austin homes is high and plenty of buyers out there are looking for a home just like yours. No idea where to start? Check out our Home Seller’s Guide to learn what to expect. Buyers, increases in new and active listings means there are homes hitting the market every day. Use our site to search all Austin homes for sale and even sign up for listing alerts to be instantly notified when a home comes on the market that meets your criteria. Whether you’re buying or selling a home, there’s no substitute for working with an experienced REALTOR®. Our agents are experts in the Austin market and would love the opportunity to work with you! Contact us today to get in touch with one of our Austin area agents.

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