The Austin Board of Realtors (ABOR) just released their figures for March 2018 and the Austin housing market continues to show increased demand, with double digit percent increases in sales in March 2018. Austin broke the record for single family homes in Austin!
It’s amazing to see the Austin-Round Rock Metropolitan Statistical Area (MISA) experience a 10.5 percent increase in sales compared to the same time last year.
Steve Crorey, 2018 president of the Austin Board of Realtors said “Last month 2,714 single-family homes sold in the 5-county Central Texas Region, which is more sales than any March we’ve seen on record.” Summer looks like it will be a strong selling season with this type of growth in first quarter. If you’re thinking of buying or selling there is no better time than now!
The median price in the Austin-Round Rock MSA increased 3.5% to $305,233 and inventory decreased 0.2 months from 2.2 months in March 2017.
The average days on market is 61 days only 3 more days than in March 2017.
The total sales dollar volume increased 18.4% from March 2017 to $1,071,274,938. Pending sales are up 7.4% to 3,049!
The demand continues to increase and home prices are moving upward. Finding affordable housing of $250,000 and under is driving the emergence of new submarkets like Manor and Del Valle. Vaike O’Grady, Austin regional director for Metrostudy said “We’re also seeing creative land plans providing common area open space to offset smaller lot and homes sizes. Attached single-family homes are also coming to the market to meet demand for more affordable housing.”
Austin’s real estate market is “hot” and I for one am reaping the benefits. My years of being a trusted resource and freely sharing my knowledge of the Austin market, is paying dividends. My listing inventory is up and I’m receiving calls to help residents understand how to best deal with buying or selling.
As in everything in life it’s all about “preparation” being the key to success. I’m here to help. Reach out to me and Let’s talk! 512-346-1799 or dillard@reloaustin.com
