Austin area homes prices are continuing to climb. According to the Austin Board of Realtors Market Report the statistics on September 2018 single family homes across the Austin-Round Rock Metropolitan Statistical Area (MSA) shows flat sales growth in September (still strong for the year) with a blip of a decrease of .9%. However the median price showed a 4% increase and there was no change in months of inventory. Due to Austin’s continued generation of job growth, every day newbies are moving here with a strong appetite for housing.
Steve Crorey, 2018 president of of the Austin Board of Realtors, said “Austin-area housing market has bucked the trend of a cool-weather slowdown over the last several years, maintaining much of the momentum from the summer months through the end of this year. Homes sales growth declined five per cent last September, so it’s good to see that the area housing market held steady in September 2018. Austin continues to be one of the fastest-growing markets and the most competitive housing markets in the country.” Year to date, home sales in the MSA are up 3.6% from the first nine months in 2017.
Personally I see a healthy market but do find some buyers are taking more time to make a decision and voicing concerns about rising interest rates and home prices. Each community is independent of others so a careful look at days on market and recent sold prices need to be evaluated. There is no one prediction for all neighborhoods. Call if you want to discuss a specific NW Austin community, I can help decipher the market data.
Let me assist you identify your short and long term housing needs. With home sales and interest rates rising along with decreasing inventory now is the time to make your move. 512-346-1799 or dillard@reloaustin.com.
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