In December the Austin Board of Realtors released their monthly report and home prices and sales have hit another historic high. Based upon November sales numbers it appears that 2019 sales will surpass the total number of homes sold last year. Last month sales rose 4.5% to 670 sales totaling 30,561 sales. This is just 300 less than 2018’s total sales volume. By looking at trends it appears that Austin will surpass 300 sales in December and thus exceed 2018 numbers.
Austin’s November median home price for a single family home rose 10.6% year over year to $405,000 an all time high for November. The Austin/Round Rock metro rose by a modest 1.7% increase to $305,000 while Travis County rose .6% to $355,000.
Land in Austin continues to be severely constrained and so home builders are moving outward in search of lower land costs and development opportunities according to Vaike O’Grady, Austin regional director for Metrostudy.
In November Williamson County home sales increased 13.2% while Hays County increased 17.8%.
“Limited and pricey housing within the urban core is driving residents to relocate to the suburbs”, according to Kevin P Scanlan, Austin Board of Realtor’s 2019 president.