Year over year home statistics in the Austin MSA improved in June.
- Median Sales Price up to $340,000, up 4%.
- Closed sales at 3,969 are an increase of 9%, which helped hold sales to only a 5.2 % decline during the first half of the year.
- Homes were on the market for 4 fewer days, down to 44 days.
- New listings are down 5% to 4,170.
- Active listings are down 32% to 5,300.
- Pending sales are up 33% to 4,737.
- Total Sales Dollar Volume is at $1.67 billion which is up 13%.
- Months of housing inventory is down .9 months to 1.8 months.
Rising prices, and low inventory are causing the local market to be very competitive and tight.
“There are plenty of unknowns in the months ahead, but June home sales across the MSA being up 9.3% year over year was tremendous when considering the strength of 2019”, said James Gaines, chief economist at the Texas A&M Real Estate Center.