Before we get into the news, I wanted to take a moment to say I’m thankful for you! Support Local Austin will be hitting 14 years soon, and that would not have happened without your loyalty. I am thankful for your business, friendship, referrals and support over the years. I have helped some families through 3 generations which is an amazing blessing and connection to have.
I wish all of you a very Happy Thanksgiving!
Now onto the news…..
For those who like data, here are some numbers to know whether you are moving to Austin or within Austin.
Record setting low for October Real Estate Inventory
From the Austin Board of Realtors – Home sales in Austin experienced a double-digit percent increase in October—creating a new record even as the inventory of single-family homes in Austin dropped to an all-time October low—according to the latest monthly report from the Austin Board of REALTORS® (ABoR).
The Central Texas Housing Market Report, which underscores the need for more diverse housing options in the city, was released just days after officials reviewed the latest draft of a revised land development code. The October report for Austin reflects a 14.5% increase year over year to 835 home sales, marking more homes sold than any October on record.
According to the October housing market report, home sales are growing not just in the city of Austin, but across the region.
For more information and to download the October 2019 Central Texas Housing Market Report, visit www.abor.com/statsoct19.
City of Austin Real Estate
The city’s escalating demand and record-breaking median home price resulted in a 21.4% increase in sales dollar volume, raising October’s total to $407,873,084. During the same period, new listings decreased 5% to 840 listings; active listings decreased 25.1% to 1,229 listings; however, pending sales increased 8.4% to 745 pending sales. Housing inventory decreased 0.6 months year over year to 1.5 months of inventory.
Austin-Round Rock MSA October Market Data
In the Austin-Round Rock MSA, single-family home sales in October experienced a double-digit percent increase of 16.8% to 2,721 home sales.
Sales dollar volume jumped 23.3% to $1,084,580,726. The median price for single-family homes increased 7.4% to $327,500. During the same period, new listings increased 8.4% to 3,067 listings and pending sales spiked 25.2% to 2,866 pending sales. However, active listings decreased 12.1% to 6,381 listings. Monthly housing inventory declined 0.5 months year over year to 2.3 months of inventory.
At the county level, single-family home sales jumped by 20.8% to 1,403 sales and sales dollar volume skyrocketed by 27.8% to $667,953,401. The median price for single-family homes rose 9.1% year over year to $385,000. During the same period, new listings increased 4.7% to 1,473 listings, while active listings decreased 16.6% to 2,743 listings. However, pending sales increased 18.9% to 1,325 pending sales. Monthly housing inventory decreased 0.5 months year over year to 2.1 months of inventory.
Hays County Real Estate Market Data
In October, Hays County single-family home sales increased 11% to 312 sales and sales dollar volume increased 9.6% to $100,655,239. The median price for a single-family home increased by 7.1% to $266,000. During the same period, new listings increased 6.6% to 372 listings while pending sales jumped 31.2% to 345 pending sales. Active listings dropped 5.2% to 931 listings. Housing inventory decreased 0.4 months to 2.9 months of inventory.
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