Austin Real Estate Market Report January 2017
Hot off the press! The new and expanded Central Texas Housing Market Report was released today by the Austin Board of REALTORS®. According to the report, single-family home sales showed strong gains throughout the Austin-Round Rock Metropolitan Statistical Area (MSA) in January 2017. With the continuation of strong housing demand and sales growth, low housing inventory has expanded out from Austin into the surrounding counties, causing an increase in price range of available homes in those counties.
The report pointed out that there was a 7.0% increase compared to January 2016 in single family home sales in the Austin-Round Rock MSA, whereas in the city of Austin, single-family home sales jumped 9.8% annually during the same time frame.
With a decrease in housing inventory levels, median home prices in the Austin-Round Rock MSA increased 9.8% year-over-year to $279,990, and there was a 2.3% increase in the City of Austin year-over-year to $312,000.
With this continued trend, entry-level homes are becoming increasingly harder to find throughout the Central Texas region.