Single-family home sales steadily grew across the Austin-Round Rock Metropolitan Statistical Area, but saw a decline in the city of Austin for the first half of the year. While the market continues to grow due to strong demand, Austin’s limited housing inventory and increasing prices are pushing people further into the suburbs.
In the city of Austin, single-family home sales in the first half of the year decreased 1.6% year over year to 4,736 sales, while the median price for a single-family home rose 3.2% to $387,100. During the same period, new listings decreased 3.4% to 6,249 listings and active listings decreased 5.7% to 1,215 listings; pending sales edged upward by 0.2% to 5,229 sales.
In June, the city of Austin home sales decreased by 2.3% to 985 home sales as the median price experienced a double-digit percent increase of 10.9% to $420,000. Housing inventory decreased 0.2 months to 1.9 months of inventory, and homes spent an average of 30 days on the market.
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