Record Breaking Summer Selling Season in Central Texas
The Austin Board of Realtors recently released the August 2017 Central Texas Housing Market Report. Central Texas had record setting numbers in single-family home sales and median price across the Austin-Round Rock Metropolitan Statistical Area (MSA). May-August 2017 was the highest-grossing summer selling season in Central Texas real estate history due to rising home prices and a recent surge in home sales activity.
There was a 1.0% increase year-over-year to 2,994 single-family home sales in the Austin-Round Rock MSA. The city of Austin saw a 6.1% jump in home sales year-over-year to 927 home sales. The median price for single-family homes increased 2.7% to $361,000 in Austin compared to last year and 4.0% in the Austin-Round Rock MSA to $300,000 compared to the year before.
The report also stated that August 2017 saw huge gains in the listing and pending sales activity across the five-county MSA. There was a 16.1% surge year-over-year in active listings to 7,781 listings, an 8.2% jump year-over-year in new listings to 3,316 listings, and an 8.1% hike year-over-year to 2,710 pending sales in the Austin-Round Rock MSA.
If you are in the market to buy or sell a home, contact TCP Real Estate today!