How did Austin Texas perform in August 2017?
Everyone’s been anxiously waiting the statistics to obtain an accurate picture of how the Austin-area housing market ended up in August of 2017. According to the August 2017 Central Texas Housing Market report released on Sept. 19, 2017 by the Austin Board of Realtors reported the volume jumped in single-family home sales while median prices held steady.
The President of the Austin Board of Realtors, Brandie Guthrie, commented: “The Central Texas housing market just experienced the strongest summer selling season on record. The Austin-Round Rock MDS saw record breaking growth, during which median prices topped $300,000 and home sales volume topped $1 billion for four consecutive months.” That’s impressive!!
Median prices are up 4%, average number of days on market are up 2% to 46 days and Active New Listings are up 16% to 7,781. Pending Sales are up 8% to 2,710.
Inventory has been moving upward to above 3.1 months of inventory still well under the 6 months of inventory the Real Estate Center at Texas A & M University as a balanced housing market.
Dr. Jim Gaines, Chief Economist for The Real Estate Center at Texas A & M University, commented: “The Austin –Round Rock MSA looks like it is moving toward a more normalized housing market. Similar to what we’re seeing across the state, housing inventory levels are slowly increasing, despite continued increases in sales volume and median price. That could indicate that in the latter half of 2017, we will likely experience some slowing of the home price increases that have become common in recent years – not price decreases, as the relationship between home buying and selling activity begins to balance out.”
Central Texas population is still growing at record levels with housing inventory rising and prices escalating slower. I’m doing what I always do follow the 3 “A’s”: Anticipate, Adapt and Adjust as we move into a more balanced market in Austin and Central Texas. We are moving from a sizzling housing market to a more controlled market. Keeping perspective is the key… it’s not all bad to embrace those cooler indicators we are finding in certain areas of the metro.
The real estate market is ever changing but one thing remains constant……Dorie Dillard’s award winning customer service! Procuring the maximum dollar for your home in any market is key to being a successful seller. You need a full-service real estate agent who has a long-standing history of doing just that!
If you’re thinking of selling your NW Austin home…..Let’s talk! As with everything in life preparation is the key and I will equip you with what you’ll need to get you, as seamlessly as possible, through the home selling process. Call 512-346-1799 or email dillard@reloaustin.com and let’s get started!
Don’t forget to visit my website: www.reloaustin.com
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        Dorie Dillard is the most frequently hired REALTOR® in the Canyon Creek Subdivision. “YOUR PERFECT PARTNER”
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