Home sales in the Austin-Round Rock area increased 7.0 percent year-over-year in January 2017 to 1,549 home sales. In the city of Austin, single-family home sales jumped 9.8 percent annually to 469 home sales during the same time frame. Michele Turnquist, owner at Engel & Volkers Austin, said "With a strong start to the year, we expect home sales and values to continue to increase over 2017. With thousands of newly built homes coming to market in the coming months we hope there is a little easing of demand issues across Austin."
Housing inventory levels remained largely flat across the Austin-Round Rock MSA in January 2017, increasing 0.1 months to 2.0 months of inventory. Housing inventory levels in Williamson County and other markets are now on pace with housing inventory levels in the City of Austin, which remained unchanged in January 2017 at 1.4 months of inventory. The inventory of single-family homes priced under $250,000 is now less than 1.0 months of inventory in many local markets.
Area home prices continued to climb at a steady pace in January 2017. In the Austin-Round Rock MSA, median home price increased 9.8 percent year-over-year to $279,990, while the median price in the city of Austin increased 2.3 percent year-over-year to $312,000.
Info and graphic courtesy of Austin Board of REALTORS®