Home sales and median sales prices hit an all time high for the month of September according to a recent Austin Board of Realtors report. In the Austin metro area, sales increased by 13.4% with 2,654 homes sold resulting in the busiest September ever. The median sales price for September was $320,000, a 7% year over year increase and the highest September median sales price ever. Pending sales were up as well which suggests October will be another strong month.
Looking at the Austin market alone, 798 houses were sold which is a 15% increase over September 2018. The median sales price totaled $406,000, an all time high for September. Housing inventory decreased by ½ month year over year to leave it at 18 months of inventory currently. Home prices continue to rise in the area because of these strong sales and the limited amount of inventory.