Austin Real Estate Market Update September 2018

Dated: 10/18/2018

Views: 55

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. ​

​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. 
This post originally appeared on
Blog author image

Erika Albert

Erika Rae Albert is an Austin native who has built her business around one guiding principle, YOU always come first. Prior to joining the real estate industry, she honed her her customer service s....

Latest Blog Posts

What Happens if a Home Doesn't Appraise?

 If you are purchasing a home using a loan, the bank will require an appraisal.  The appraiser visits the home, looks at comparable recent sales, and determines a value for the

Read More

Tips to Strengthen Your Offer in a Multiple Offer Situation

 As we approach the high season in the land of real estate, more and more properties are experiencing multiple offer situations.  When two or more parties have submitted an offer on

Read More

Austin Homes with Lake Views

 There’s nothing better than being able to wake up in the morning and enjoy a cup of coffee while you look out at the lake and see the sun reflecting off the water.  If this

Read More

How to Find Austin Homes For Sale with Low Property Taxes

 As someone thinking about a move to Austin, I’m sure you may be curious about how much you should expect to pay in property taxes for any given home. Property tax rates vary drastically

Read More