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AUSTIN, TX– Rising property values and increased demand led to an all-time high in sales dollar volume in 2018 as shrinking affordability spread across Central Texas, according to year-end data in the latest Austin Board of REALTORS® (ABoR) report.
Central Texas REALTORS® sold 30,713 homes in 2018, generating $11.9 billion in sales dollar volume, the December and Year-End 2018 Central Texas Housing Market Report found.
“2018 was the highest-grossing year on record, and for the first time ever, the median price for single-family homes in the Austin-Round Rock MSA (metropolitan statistical area) stayed above $300,000 for 10 consecutive months,” Kevin P. Scanlan, the 2019 Austin Board of REALTORS®president, said. “While much of the region is benefitting from these higher numbers, increasing home prices are forcing families out of the city of Austin. This phenomenon is leading to lower enrollment in schools and could lead to decreased property tax revenue and budget shortfalls.”
Austin-Round Rock MSA
In the Austin-Round Rock MSA, one of the fastest-growing regions in the nation, the median price for single-family homes increased annually by 3.6 percent to $310,400. Sales increased annually by 2.1 percent to 30,713 sales. In December, the median home price decreased 0.8 percent year over year to $305,000, and sales decreased 11.1 percent year over year to 2,370 sales.
“Last November, we began to see fewer listings on the MLS (multiple listing service), which is typical of a seasonal slowdown during the holidays. It’s also likely that people are staying in their homes longer to watch their investment increase and keep their current interest rate,” Mark Sprague, state director of information capital at Independence Title, said.
New listings for the five-county MSA increased annually by 0.8 percent to 38,870 listings in 2018. During the same period, active listings increased 2.5 percent to 6,559 listings and pending sales increased 1.9 percent to 30,805 pending sales.
Housing inventory increased in December by 0.2 months to 2.3 months of inventory in the five-county MSA.
“Annual sales are still ahead of where we were last year,” Sprague said. “I don’t think 2019 will be any different. Austin’s strong gross domestic product growth will continue to drive our region’s job growth and need for housing.”
City of Austin
In the city of Austin, the median price for single-family homes increased annually by 4.1 percent to $375,760. While 2018 sales remained flat at 9,357 homes, sales dollar volume increased annually by 5.3 percent to $4,365,464,913. Although the median home price increased 6.2 percent year over year in December to $376,875, sales decreased 17.3 percent year over year to 669 sales. Austin’s monthly housing inventory decreased 0.1 months to 1.4 months of inventory in December.
In 2018, Travis County’s median home price increased annually by 2.9 percent to $360,000 and sales increased similarly—3.2 percent to 15,240 sales. The December median home price rose 0.4 percent year over year to $350,000, but sales decreased 11.7 percent year over year to 1,135 sales. Monthly housing inventory stayed at 2.0 months—the same as the previous December.
While Williamson County’s median home price increased annually to $285,000, it remains significantly lower than the median in Travis County and the city of Austin. Single-family home sales in Williamson County increased annually by 1.2 percent to 10,634 sales. However, in December, the median home price decreased 2.4 percent year over year to $280,000, and sales decreased 12.4 percent to 856 sales. Housing inventory increased 0.4 months year over year to 2.4 months of inventory.
In Hays County, the median home price increased annually by 2.3 percent to $264,990, and sales increased annually by 2 percent to 3,524 sales. The median home price in December increased 2.3 percent year over year to $272,938, but December sales decreased 11.3 percent to 267 sales. Housing inventory increased 0.5 percent to 2.9 months of inventory.
For more information and to download the December and Year-End 2018 Central Texas Housing Market Report, visit www.abor.com/statsdec18.
Following are May 2017 single-family housing market statistics in the Austin-Round Rock MSA:
Austin Board of REALTORS®
Date: Thursday, January 22, 2015, 11:30am CST
December 2014 Statistics
“Strong demand for homes continued in Austin while the inventory of available homes continued to shrink,” said Leonard Guerrero, chairman of ABOR.
The median home price in August was $212,000, a 6 percent increase from August 2011.
“This was the highest median price we’ve seen in the month of August in the last decade in Austin,” Guerrero said.
Here’s some other highlights of the report covering August 2012:
• 2,397 single-family homes were sold, 21 percent more than a year ago
• The average number of days a single-family home was on the market was 61, 18 days less than a year ago
• There were 2,740 new single-family home listings, 15 percent more than a year ago
• There were 7,262 active single-family home listings, 17 percent less than a year ago
• There were 2,207 pending sales, 23 percent more than a year ago
• There were four months of inventory, 1.7 months less than a year ago
• The total volume of sales was $663.7 million, 30 percent more than a year ago
• 264 condos and townhomes were sold in August, 18 percent more than a year ago
• The median price for a condo or townhome was $173,250, 7 percent higher than a year ago
• Condos and townhomes were on the market for an average of 64 days, 39 percent less than a year ago
• 1,924 properties residential properties were leased in August, 2 percent less than a year ago
• The median lease rate was $1.350 a month, 4 percent higher than a year ago
Sales Volume Up, Price Steady for Austin-area Real Estate
Austin Board of REALTORS® Releases June 2011 Real Estate Statistics
July 20, 2011 - Sales of single-family Austin homes were up nine percent in June 2011 compared to June 2010 with 2,145 single-family homes sold, according to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®.
In the same period, the median price for Austin-area homes was $205,000, the same as June 2010; and Austin homes spent an average of 75 days on the market, seven percent longer than June 2010. In addition, new listings were down four percent in June 2011 compared to June 2010, and active listings were down 18 percent.
“While this month still felt the lingering effect of last year’s homebuyer tax credits, we are now able to return to a typical month-to-month comparison to gauge the trends in the real estate market,” said Judith Bundschuh, Chairman of the Austin Board of REALTORS®.
Chairman Bundschuh continued, “Looking at the results, it’s encouraging to see that the demand for homes is strong and that Austin-area homes continue to hold their value.”
In addition, pending sales were up for the second consecutive month with 2,114 pending sales in June 2011, a 31 percent increase compared to June 2010.
Chairman Bundschuh explained, “The increase in pending sales this month, coupled with stable prices and stronger sales this month, are encouraging signs that the market is returning to a pre-recession seasonal cycle.”
The volume of leasing activity in Austin also increased in June 2011 with 1,730 properties leased, 16 percent more than June 2010, and a median lease price of $1,300, seven percent higher than the same month of the prior year.
· $583,137,555 – Total dollar volume of single-family properties sold, eight percent more than June 2010.
· $205,000 – Median price for single-family homes, statistically unchanged from June 2010.
· 2,145 – Single-family homes sold, nine percent more than June 2010.
· 75 – Days on market, seven percent longer than June 2010.
· 3,148 – New single-family home listings on the market, four percent less than June 2010.
· 9,687 – Active single-family home listings on the market, 18 percent less than June 2010.
· 2,114 – Pending sales for single-family homes, 31 percent more than June 2010.
Austin Board of REALTORS® releases September 2010 real estate statistics
October 20, 2010 - According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®, Austin area homes sales were down in September compared to the same month the prior year, but remained on pace with 2009 year-to-date.
According to John Horton, Chairman of the Austin Board of REALTORS®, “As we’ve seen the last few months, year-over-year comparisons have been artificially altered due to the timing of the homebuyer tax credits. Thus, year-to-date figures continue to be a more meaningful measure of our market this year.”
The volume of Austin area home sales in September 2010 was 1,274, down 27 percent from the same month in 2009. Year-to-date, sales volumes were 14,014, down one percent from the same period in 2009. Homes spent an average of 82 days on the market in September 2010, up 15 percent from the same month in 2009.
The median price for September 2010 was $195,000, up four percent from September 2009. Year-to-date, the median price was $194,970, up three percent from 2009. Price classes that performed particularly well in terms of sales volume year-to-date were those in the higher price ranges. Sales in the $300,000-$399,999 price class were up 12 percent year-to-date in September.
Chairman Horton explained, “Looking at the market over the course of the year, 2010 looks very much like 2009. However, sales have been weighted more heavily toward the first half of the year and sellers are waiting longer to earn values close to list price for their properties.”
He added, “Low interest rates are providing unprecedented opportunities for buyers. In addition, Austin is in the fortunate and unique position of having an ample inventory of homes and stable home prices. Thus, buyers have many properties to choose from, but they shouldn’t expect steep discounts. Conversely, sellers can aim for solid values, but should prepare to be patient and competitive to earn them. Both buyers and sellers must continue to navigate the recovering economy throughout the fall season.”
September 2010 Statistics
Austin Board of REALTORS® releases December 2009 and year-end real estate statistics
January 20, 2010 - According to the Multiple Listing Service report by the Austin Board of REALTORS®, the volume of Austin area home sales in December 2009 was 1,373, up five percent from the same month in 2008. The median price of real estate in the Austin area also showed an increase, up six percent from December 2008 to $194,000.
“We saw dramatic increases in sales volume in October and November 2009, which were presumably related to the original deadline for the first-time homebuyer tax credit,” explained John Horton, 2010 Chairman of the Austin Board of REALTORS®. “However, increases in sales volume beyond November and figures that have improved steadily throughout the year indicate that, while some demand was driven by the tax credit deadline, a sustainable recovery is also underway in the real estate market.”
Year-end real estate totals for 2009 showed improvement in sales volume and stability in home prices over the course of the year. In 2009, 19,005 homes were sold in the Austin area, a six percent decrease from 2008. The median price for the region in 2009 was $188,480, down one percent from 2008. The six percent decline in year-end home sales for Central Texas marks a significant improvement when compared to the double-digit decreases in home sales seen in the first quarter of 2009.
Mr. Horton summarized, “We’re seeing encouraging news from many sources that 2010 will be an improvement over 2009, and I think this report is one more indicator the outlook is beginning to brighten. As always, however, I urge consumers to base their decisions about buying and selling real estate on their own situation and goals. Talk to your Austin REALTOR® for advice on whether 2010 should be your year to buy a home or move up.”
December 2009 Statistics
Austin Board of REALTORS® releases July 2009 real estate statistics
August 20, 2009 - According to the July 2009 Multiple Listing Service report by the Austin Board of REALTORS®, the volume of Austin-area home sales reached 2008 levels for the first time this year.
In July 2009, 2,069 homes were sold, statistically unchanged from the 2,068 homes sold in July 2008. The median home price for Austin in July 2009 was $191,500, a two percent decrease from the same month the prior year.
“The sales volume momentum in Austin continues, now reaching 2008 levels. That’s good news, but I think it’s even better news that we’ve achieved that increase while maintaining a steady median home price,” said Jay Gohil, chairman of the Austin Board of REALTORS®. “Throughout 2009, the median price has fluctuated only slightly compared to 2008. Looking back further, prices have remained above 2007 levels, one of the most lucrative years of the last decade in Austin real estate. That long-term price stability, particularly in the face of market fluctuations, bodes well for Austin’s future.”
July 2009 Statistics
$191,500 was the median price, a two percent decrease from one year ago
2,069 was the number of homes sold, unchanged from July 2008
The Austin Board of REALTORS® is a non-profit, voluntary organization representing more than 8,000 licensed REALTORS® in Central Texas.
America's Recession-Proof Cities
By Joshua Zumbrun
Nationally, home prices are falling, unemployment is on the rise and the economy is expected to grow slowly--or even contract--in the first half of the year. But some cities are doing just fine.
Take Oklahoma City, Okla. With falling unemployment, one of the country's strongest housing markets, and solid growth in agriculture, energy and manufacturing, it looks best positioned among the nation's largest metropolitan areas to ride out the current crisis.
San Antonio is right behind. It also features solid employment figures and affordable home prices that continue to rise. Its industries are growing; it can't hurt that the new AT&T was formed when San Antonio-based SBC Communications swallowed the old AT&T Corp. and BellSouth.
The others holding steady or improving include Austin, Texas; Houston; Charlotte, N.C.; Dallas; San Jose, Calif.; Raleigh, N.C.; Salt Lake City; and Seattle.
Behind The Numbers To find them, Forbes.com examined the country's 50 largest metros and looked at several key measures.
We examined unemployment data supplied by the U.S. Bureau of Labor Statistics for the year ending in February 2008 to see which areas are most adding or subtracting jobs. Next, we looked at the BLS data on job growth in non-farm payrolls, through February 2008, for construction, education and health services, financial activities, information, leisure and hospitality, manufacturing, natural resources and mining, professional and business services, trade, transportation and utilities, and the BLS's catch-all category, "other services."
We also took into account median home price data from the National Association of Realtors--from the fourth quarter of 2006 to the fourth quarter of 2007--to see which areas posted the largest annual gains. Our data did not account for the impact of declining sales in the first several months of this year.
Finally, our rankings were adjusted using data from a November 2007 report, "U.S. Metro Economies: The Mortgage Crisis," by the U.S. Conference of Mayors. It lists each city's estimated gross metropolitan product growth by projecting how rising foreclosures and falling home prices would affect overall levels of productivity in local economies.
Sunny Southern Skies-Texas cities fared best under these measures. San Antonio, Austin, Houston and Dallas-Fort Worth have benefited from historically lower home prices, which have been affordable to a large segment of the population. The availability of land--and, in some cases, little zoning--helped keep prices in these cities low. Instead of competing for homes, Texans could move to a new subdivision a little farther out.
What's more, all four boast falling unemployment rates, with Austin dropping from 3.8% to 3.6% and San Antonio from 4.3% to 4%.
Cities that are expected to see growth in non-farm payrolls include Raleigh, which is expected to see 7.4% growth in professional and business services and 6% growth in education and health.
If you're tired of waiting, these might be the best places to go
June 19, 2008 – As buying season heats up in Central Texas, the May 2008 Austin Board of REALTORS® Multiple Listing Service (MLS) report indicates single-family home sales are up slightly since April 2008, homes are spending fewer days on the market and overall, the real estate market continues to reflect conditions similar to those of 2005.
“Despite economic conditions across the nation, Austin continues to have a relatively low unemployment rate and cost of living index,” said ABoR Chairman Socar Chatmon-Thomas. “While we’re not enjoying the booming real estate markets of 2006 and 2007, we have seen steady increases in sales volume since January 2008.”
Single-family home sales in May 2008 reached their highest point in eight months, totaling 2,154 and contributing $566,827,254 to the local economy. The median price for single-family properties was $196,120 while active listings increased to 10,577. Homes sold in May 2008 also fell, averaging a total of 64 days on the market.
May 2008 - Single-Family Homes
Current Market SummaryJuly 2007All Single Family Sales
All Single Family Sales
All Active Single Family Listings
All Single Family Sales
Current Market Summary
April 2007All Single Family Sales
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