May was a HOT month for real estate in the Austin area! According to the latest Central Texas Housing Market report released by the Austin Board of Realtors®, there were strong gains in the single-family home sales volume across the Austin-Round Rock Metropolitan Statistical Area (MSA) this past May. Housing demand continues to be at an all-time high in the greater Austin area.
May 2017 was the highest-grossing month for Central Texas real estate in the region’s history, with an increase of 18.4% from May 2016 in single-family home sales dollar volume. Single-family home sales volume rose 9% to 3,170 home sales in the Austin-Round Rock MSA and increased 9.7% to 993 home sales in the city of Austin when compared to May 2016. During the same time frame, there was an 8% increase in median price to $310,000 for single-family home sales in the Austin-Round Rock MSA and an 8.6% rise in median price to $380,000 within Austin’s city limits.
The Austin-Round Rock MSA saw a 22% jump in active listings year-over-year to 6,972 listings; a 15% jump in new listings year-over-year to 4,369 listings; and a 7.7% increase in pending sales year-over-year to 3,437 pending sales.
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