The Austin Board of REALTORS just released their May market report, and the real estate market is strong as ever in the City of Austin! Houses within the city limits of Austin sold for a median price of $380,000 last month, representing a 9% increase compared to last May.
The May real estate market report also revealed increased inventory, although we are still far from a balanced market. Coupled with rising home prices, this recent surge in home sales activity made May 2017 the highest-grossing month for Central Texas real estate in the region’s history.
The May real estate report for home sales in the City of Austin also found that homes sold last month were on the market for an average of 34 days. In my opinion, this figure seems high, after all it is an average. When I am helping my clients buy or sell houses in the Austin area we continue to see frequent multiple offer situations. Similarly, houses flying off the market in less than a week is a common occurrence in the Austin real estate market.
If you’re interested in seeing a more specific report for your Austin neighborhood, contact me today. Is the Austin Board of REALTOR’s May Real Estate Report making you think about selling your Austin home? Visit my site for a quick home value estimate.
Erika Rae Albert
Sharing my Austin real estate updates, home owner tips, & more.