Despite a dip in September, the Austin-area housing market rebounded big time in October. In fact, according to the October 2018 Central Texas Housing Market report released by the Austin Board of REALTORS®, both home sales and sales dollar volume were the highest on record for any October. These record highs suggest a strong demand for single-family homes around the Austin-area and, while inventory did slightly increase around the area, there is still not enough supply to support the demand. What should you know as both a current and potential investment property owner? Here’s a look at the details:
- Austin-Round Rock MSA
- 2,347 home sales – a 4.3 percent increase from October 2017 AND the highest number of sales for any October
- $900 million in sales dollar volume – an 8.8 percent increase year-over-year
- $308,355 median home sales price – a 7.5 percent increase from October 2017
- 2,871 new listings – a 3.7 percent increase year-over-year
- 7,434 active listings – an 8.2 percent increase year-over-year
- 2,444 pending sales – a 2.8 percent increase from October 2017
- 2.9 months of inventory
- City of Austin
- 735 home sales – a 7.8 percent increase year-over-year
- $343 million in sales dollar volume – an 11.9 percent increase from October 2017
- $377,000 median home sales price – a 3.7 percent increase from October 2017
- 878 new listings – a 5 percent increase year-over-year
- 1,643 active listings – a 5.4 percent decrease year-over-year
- 711 pending sales – a 2.2 percent decrease from October 2017
- 2.1 months of inventory
- Travis County
- 1,176 home sales – a 6.2 percent increase year-over-year
- $537 million in sales dollar volume – a 10.9 percent increase from October 2017
- $358,540 median home sales price – a 5.5 percent increase year-over-year
- 1,417 new listings – a 5.1 percent increase year-over-year
- 3,374 active listings – a 1.2 percent increase from October 2017
- 1,198 pending sales – a 3.3 percent increase year-over-year
- 2.6 months of inventory
- Williamson County
- 780 home sales – a 0.5 percent decrease year-over-year
- $242 million in sales dollar volume – a 3.3 percent increase since last October
- $281,250 median home sales price – a 4.5 percent increase year-over-year
- 963 new listings – a 2.6 percent decrease from October 2017
- 2,595 active listings – a 12.2 percent increase year-over-year
- 835 pending sales – a 2.1 percent increase from October 2017
- 2.9 months of inventory
Do you have any questions about the local housing market? As a longtime REALTOR® and property manager in the Austin-area, the TALK Property Management Team is always here for you. Contact our team anytime!
Are you thinking about buying an investment property? We would be happy to help! Contact us today to get started and learn more about our property management services!
