Austin's Housing Market Shows Continued Demand and Suburban Growth
First quarter sales provide evidence for stabilizing prices.
AUSTIN, TX–Central Texas REALTORS® remained busy after strong first-quarter sales, with the number of April home sales skyrocketing almost 15% in the Austin-Round Rock Metropolitan Statistical Area (MSA) over the same period last year. However, because the median sales price increased by a much narrower margin, results signal market prices stabilizing, according to the Austin Board of REALTORS® April 2019 Central Texas Housing Market Report.
Austin, TX–City of Austin
In the city of Austin, the median home price in April increased year over year by 1.1% to $394,450. During the same period, single-family home sales increased by 3.6% to 889 sales and sales dollar volume increased by 1.1% to $421,578,061. New listings decreased 10.7% to 1,158 listings and active listings decreased 12% to 1,163 listings, but pending sales increased 4.2% to 1,070 pending sales. Inventory dropped by 0.2 months to 1.5 months of inventory.