Austin's September Numbers
October 17, 2017 – The 2017 Central Texas summer selling season was the strongest on record in terms of single-family home sales and median price across the Austin-Round Rock Metropolitan Statistical Area (MSA). Single-family home sales volume jumped in the city of Austin in August, while median price held steady according to the August 2017 Central Texas Housing Market Report released today by the Austin Board of REALTORS®.
According to ABOR president Brandy Guthrie:
“The Central Texas housing market just experienced the strongest summer selling season on record. The Austin-Round Rock MSA saw record breaking growth, during which median price topped $300,000 and home sales volume topped $1 billion four consecutive months in a row.”
Image Credit:Austin Board of Realtors
Brandy Guthrie, 2017 President of the Austin Board of REALTORS® commented, “Despite last month’s dip in home sales activity, it’s important to remember that we’re comparing our current figures to the record-breaking housing market activity in 2016 and it’s not necessarily indicative of a downturn.”
Lawrence Yun, Chief Economist and Senior Vice President of Research at the National Association of REALTORS®, agreed: “Austin has had one of the fastest job growth rates in the country over the past decade and consequently one of the strongest housing markets with rising sales. But steady depletion of housing inventory is resulting in a fast rise in home prices and affordability challenges. The construction of single-family homes as well as condominiums needs to ramp up higher in order to fully satisfy housing demand and maintain housing affordability. Otherwise, job growth could stall and bring less dynamism to the local economy.”
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