Austin Real Estate Market Update: Central Texas housing market closes 2017 with record-breaking sales
Well, December home sale statistics from the Austin Board of Realtors were just released, and sales are steady! In the Austin-Round Rock MSA, single-family home sales increased 13% to 2,653 home sales in December 2017, while median price rose 7% to $310,000 over the same time frame.
Within the city limits of Austin, there were 802 home sales last month with a median home price of $359,150. Within the City of Austin, the Average Days on Market or ADOM went up slightly to 54 days which is not unusual as the market tends to slow slightly around the holidays. Compared to City of Austin home sales in December of 2016, the total dollar volume of residential home sales in December increased 15% to $352 million.
There are just under one million residents in the City of Austin, while more than two million people reside in the greater Austin area. In fact, the Austin-Round Rock MSA is the 31st largest metropolitan area in the United States. In the Austin- Round Rock MSA there were 2,653 home sales in December of 2017 bringing the annual home sales total for the MSA to 30,059 sales, an all-time high.
If you’re interested in learning more about what’s happening in your specific neighborhood, contact me. I can provide you with a custom Austin real estate market update for your specific area.