Austin Real Estate Market Report May 2016
It’s getting HOT across the Austin metro area for home sales as single-family home sales rose in both Williamson County and across the Austin-Round Rock metro statistical area (MSA) in May, according to the latest Central Texas Housing Market Report released by the Austin Board of REALTORS®.
What is interesting to note is that Williamson County’s population is less than half of Travis County, yet only 424 more single-family homes were sold in Travis County in May. Within the City of Austin, high home values and low inventory levels continued to suppress home sales as home buyers move out of the city limits for more affordably priced housing.
The report also noted that home prices throughout the Central Texas region continued to increase in May 2016, but at a slower pace. In the five-county MSA region, the median price rose 4.8 percent year-over-year to $288,085. In Williamson County, it rose 5.2 percent annually to $261,822. The median price within Austin’s city limits was $355,000 in May 2016, a 1.6 percent increase from the year prior.