Austin Real Estate Market Experiences Record Sales
June 22, 2019 by Laura Duggan · Leave a Comment
Over 12,500 homes sold during the first 5 months of this year– 1,000 more than sold in the first 5 months of 2018.
3,355 homes sold in May, an increase of 5 percent from May of last year.
4,920 homes are Pending for sale. The last two months have seen the highest number of Pendings EVER in the Austin market.
There is currently only 2.18 months of inventory, down from 2.38 in June of last year, a drop of 8.4%.
We are in an Extreme Sellers Market (under 3 months of inventory) for all Price Bands under $900,000. One year ago our Extreme Sellers Market was only for the Price Bands below $600,000
There are 7,320 homes for sale in Austin, a decrease of 4.15% from one year ago and also 4% below 2017.
Of the 25 Zip Codes we track in the Market Report, in 10 of the Zip Codes the average home sold in May ABOVE 100% of list! A year ago in only 2 Zip Codes were homes on average selling over 100% of list.
Compared to one year ago, the average May sold price of $417,745 was up 5.2%
As always, market conditions are local to neighborhoods and specific homes. If you want more information about your neighborhood or your home, we are always happy to provide it.
