Central Texas' Housing Market Maintains Record Pace

The housing market in Central Texas is on the rise with home sales and median prices both higher than a year ago, according to Austin-American Statesman. In November, home sales in Central Texas grew by 3.7 percent, with median prices rising 2.9 percent to $296,500.

“If this month’s home sales volume exceeds that of December 2016, 2017 most likely will be another record-breaking year for the Austin-area housing market,” said Brandy Guthrie, president of the Austin Board of Realtors. If next month follows the upward trend, this will be Austin’s seventh consecutive record year of home sales and prices.

Growth in active listings and pending sales across the five-county Central Texas region show that an increase in single-family home sales could last for the rest of 2017. Round Rock’s single-family home sales are 3.7 percent higher than a year ago. 

“Due to rapid population growth throughout Central Texas, Austin continues to have one of the highest demands for housing in the nation,” Guthrie said. “Homes sales are the strongest where price points are the lowest and where development options are available, such as parts of Williamson and Hays counties.” Katrina Fetzer Warren, a real estate agent with Stone & Acre in Austin, said the most popular neighborhoods continue to be Travis HeightsBouldin, and Rosedale.

Within Austin city limits, median home prices increased by seven percent to $360,000 — however, sales decreased by 3.3 percent in the city, consequently falling 2.3 percent in Travis County

As home prices keep going up, affordability challenges in Central Texas are predicted to carry on in 2018.

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