E-RAE REALTY
  • HOME
  • BUY
  • SELL
  • INVEST
  • EXPLORE
  • BLOG
  • ABOUT
  • CONTACT
  • HOME
  • BUY
  • SELL
  • INVEST
  • EXPLORE
  • BLOG
  • ABOUT
  • CONTACT

Austin Real Estate Market Update – September 2018

10/16/2018

0 Comments

 
The Austin Board of REALTORS® just released the September 2018 Austin Market Report.  According to the report, September data shows a stall in home sales growth. Regardless, median home sales prices continue to rise for both the City of Austin and the Greater Austin area. 
 
The home sales volume stall that the board report magnifies as its report title is quite slight.  Compared to September 2017, there were 22 fewer single family home sales in the Austin – Round Rock MSA this past month. Within the City of Austin, home sales decreased from 708 last year to 702 home sales in September of 2018.  This is hardly a drastic change in the market.   According to Lawrence Yun, chief economist and senior vice president of research at the National Association of REALTORS®, the flat sales growth in the Austin area could be due to rising interest rates.  This is a valid argument; interest rates have rose about three quarters of a percent since last year.  However, there are many other factors that could be at play here, such as the lack of housing available and the increasing rise in the median sales price. ​
Picture

​In the greater Austin Area, the median home sales price increased to $302,250 last month.  This is almost eleven grand more than the median home sales price of September 2017.  Within the city limits, the median sales home price increased to $365,000.  The combination of increased prices and higher interest rates leads to less purchasing power for home buyers. 
 
The average days on market (ADOM) for homes in the greater Austin area and homes within the city limits has not changed much since last year.  Homes within the City of Austin spent a few less days on the market this year compared to last year.  This month, City of Austin homes had an ADOM of 38 compared to 42 days last September.  In the greater Austin Area, the ADOM was 53 days.  The exact same figure as September of 2017.
 
If you’re interested in learning more about the exact market conditions in your neighborhood, contact me today.  I’d be happy to prepare a specified report for your area. 
0 Comments



Leave a Reply.

    BLOG

    Sharing Austin real estate updates, home owner tips, & more.

    Archives

    February 2023
    November 2022
    September 2022
    June 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    September 2021
    August 2021
    July 2021
    June 2021
    March 2021
    January 2021
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017

    Categories

    All
    ADUs
    Attractions & Events
    Buying A Home
    Condos
    Design
    Development
    Home Maintenance
    Investments
    Lake Austin
    Market Updates
    Neighborhoods
    Selling
    Short Term Rentals
    Westlake

All information provided is deemed reliable, but is not guaranteed and should be independently verified. 
​Please Note:  Texas law requires licensed agents to provide this Information About Brokerage Services

​
Licensed agents are also required to provide:  Texas Real Estate Commission Consumer Protection Notice