• Specializing in the West Austin and Lake Travis area.

Compare Listings

August 2019 Market Report

Increasing sales and decreasing home stock leave few choices for Austin residents

As the summer-selling season came to an end, August Austin-area home sales continued to increase, while listings on the market decreased compared to the same month last year. The Austin Board of REALTORS® latest Central Texas Housing Market Report indicates the imbalance between supply and demand––which continues to drive up the cost of homes in Austin––will persist beyond this summer’s sales activity.

“While it’s typical to see a decrease in housing inventory and listings at the end of the summer, the continued year-over-year decrease in supply is proof that Austin’s housing stock is critically limited,” Kevin P. Scanlan, 2019 president of the Austin Board of REALTORS®, said. “We’re encouraged by the City Council’s stated commitment to creating more housing capacity. Increasing the supply and variety of housing is the only way to ensure a more balanced market.

AUSTIN-AREA:

In the Austin-Round Rock MSA, single-family home sales in August increased 5.8% to 3,189 home sales, and sales dollar volume increased 7.8% to $1,289,691,264. The median price for single-family homes slightly increased by 2% to $326,500. During the same period, new listings decreased 7.1% to 3,457 listings; active listings decreased 9.3% to 7,074 listings; but pending sales jumped 19% to 3,114 pending sales. Monthly housing inventory declined 0.3 months year over year to 2.7 months of inventory.

Austin Market Report August 2019

 

TRAVIS COUNTY

In Travis County, August home sales increased by 4.3% to 1,526 sales, and sales dollar volume increased 5.9% to $741,835,279. The median price for a single-family home increased 2.4% to $380,000. During the same period, new listings decreased 4.5% to 1,677 listings; active listings decreased 11.1% to 3,162 listings; and pending sales spiked 16.1% to 1,475 pending sales. Monthly housing inventory dropped 0.4 months to 2.4 months of inventory.

Source: Abor

Related posts

Market Update – September 2019 – Home Prices Reach All-Time High

While the summer selling season has ended for most housing markets, the Austin Board of REALTORS® latest Central Texas Housing Market Report shows a double-digit percent increase in Austin home sales, which continue to outpace inventory and drive up home prices.

Continue reading
by Matt Lennox

Market Update – July 2019 – Austin-area home sales break July records; inventory remains low

ustin-area home sales set an all-time high for any July on record, as sales last month increased 11.7% to 3,439 home sales, according to the latest Central Texas Housing Market Report from the Austin Board of REALTORS®. Despite the record, home sales within the city of Austin remained flat due to limited housing inventory.

Continue reading
by Matt Lennox

Market Update – June 2019 – Central Texas home sales increase in first half of 2019; decrease in Austin

Central Texas home sales increase in first half of 2019; decrease in Austin due to limited inventory and increasing home prices.

Continue reading
by Matt Lennox