Austin Real Estate Market Report May 2018
The Austin Board of Realtors® just released the May 2018 Central Texas Housing Market Report. Based on the latest data, housing inventory continues to decline coming in historically low while demand continues to climb to historic heights resulting in an increased affordability issue. According to Steve Crorey, 2018 president of the Austin Board of REALTORS®, Austin’s market affordability crisis is due to an “antiquated land development code that places unnecessary constraints on building the number and variety of homes our community needs”. This lack of housing choice places the disadvantage on first-time homebuyers, families with children, and middle and lower-income buyers.
City of Austin
- Median price ↑ 3.7% to $389,000, an all-time high for the city
- Home sales ↑ 5.9% to 1,037 sales
- Housing inventory ↓ 0.1 months to 2.0 months
- Active listings ↓ 6.8% to 1,533 listings
Austin-Round Rock MSA
- Median home price ↑ 4.8% to $325,000
- Home sales ↑ 4.2% to 3,210 sales
- Housing inventory ↓ 0.1 months to 2.7 months
Travis County
- Median home price ↑ 3% to $375,000
- Home sales ↑ 6% to 1,618 sales
- Housing inventory ↓ 0.2 months to 2.6 months
Williamson County
- Median home price ↑ 7% to $303,500
- Homes sales ↑ 1% to 1,104 sales
- Housing inventory ↑ 0.1 months to 2.6 months
