Market Update - March 2018
The Austin Housing market is very strong! We are seeing a higher demand, stronger sales and a new record for the month of March.
According to Austin Board of Realtors there was a double digit increase in sales and five Central Texas counties hit record high sales which predicts a very busy summer season.
Home can often spend days, weeks on the market but within the city limits of Austin where inventory is scarce, ABOR reports homes are spending as little as two weeks on the market.
Single-family home sales increased 8.5 % from March 2017 and inventory decreased to 1.5 months. Last March reported 1.7 month of inventory.
We're seeing sales increase not just in Austin but outlying cities such as Manor, jumping 6.5% and Median home prices sitting at $195,900.
In Pflugerville sales decreased overall but the median price is on the rise with homes selling around $251,500.
If you are looking to buy or sell this summer, we'd love to chat about your goals and shed some more light on the Austin market.