May 2018 Austin Market Report

Posted on Wednesday, June 20th, 2018 at 10:15am.

May 2018 Austin Market Report

With increases nearly across the board, Austin's real estate market is nearing its busiest time of the year. Most counties in Central Texas saw an increase in single-family home sales, with the Austin-Round Rock area up 4% to 3,210 homes sold while the median home price rose 5% to $325,000. Despite the continuous rise in prices, pending sales for May increased by 7%. The month of May 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 2.7 months of inventory available. Check out the newest numbers from the Austin Board of REALTORS® for May:

May 2018 Austin Area Market Statistics

  • 3,210 single-family homes were sold this May - 4% more than May 2017
  • The median price of a home increased 5% since last May to $325,000
  • Total dollar volume of single-family properties sold was $1.3 billion for May 2018, up 7% from last year
  • Decrease in the months of inventory since May 2017, settling at 2.7 months in May 2018
  • 46 days spent on the market in May 2018 compared to 43 days the previous year
  • 6,848 active listings during May 2018 - up 1% from May 2017
  • 5% increase in new listings for May 2018 for a total of 4,464 listings
  • 6% more pending sales than May 2017 with 3,436 in May 2018

Austin's 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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