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Home Sales Prices Increase as Austin Market Gets Even Hotter

Surrounding areas boom as city median hits $335K

If the Austin Board of Realtors’ most recent residential real estate report is to be believed, Austin’s home sales market is only going to get hotter along with the temperature.

According to the report, single-family home sales in Austin increased 3.3 percent over last year in the first half of 2016. Prices also continued to rise, with the median rising to $336,000, an increase of 4.2 percent.

Numbers for the Austin-Round Rock metropolitan statistical area (which includes all or parts of Travis, Bastrop, Williamson, Hays, and Caldwell counties) were higher, with a 9.9 percent year-over-year increase to 2,909 sales. Median price for the area rose 4.8 percent year-over-year to $288,085.

Williamson County’s market shift stood out significantly, with home sales surgin 19.5 percent year-over-year in May to 1,028 single-family home sales.

Sales prices in the five-county MSA also continued to increase. Median price for the area rose 4.8 percent year-over-year to $288,085. In Williamson County, median price rose 5.2 percent annually to $261,822. The median price within Austin’s city limits was $355,000 in May 2016, a 1.6 percent increase from the year prior.

Home sales jump in Williamson County, across Austin-Round Rock Metropolitan Area in May 2016 [Austin Board of Realtors]