Austin MLS statistics, june 2018

The results are here! Join us as we take a close look at the May 2018 real estate statistics for the city of Austin.

After a slower beginning to the year, the median cost of sold homes has surpassed 2017, with $302,300 compared to $293,200. Inventory continues to hold steady at a low 2.7 months of available inventory.

At 5 months into the year, the trend of continued rising median home prices is sure to continue.

Other highlights:

  • Total units sold is up 6% from 2017
  • 6% more units were sold up to May this year, compared to the same time period in 2017
  • Inventory level is down 4,400 compared to 8 years ago

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What will change about buying and selling homes within the next year, two years, or five?

Predicting the future of any industry isn’t easy. Fortunately, real estate generally offers more accessible and reliable data than other industries to use when making forecasts. That means making reasonable predictions about the not-so-distant future isn’t a complete shot in the dark.

Consider the Austin, Texas market as an example. We know that the U.S. government tracks population growth through periodic censuses. This decade to decade population data shows that Austin’s population usually grows by more than 20% every decade, with the single exception being the 1920s (16.8% growth). Someone could use such data to reasonably predict that this trend will…

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austin house for rent

Supply continues to remain level as demand is up 4% so far in 2018, compared to a 10% increase by this time last year. Rental prices have remained more or less level through 2017 and into 2018.

The average price per square foot of a rental in Austin are $1.33 for apartments/townhomes and $1.15 for single-family homes.

Specific stats to look out for:

  • Home leases are up 6%
  • Property leases are up 1%
  • Single-family home leases are down 6%

Total leases are up across the board: apartments, condos and single-family homes at an average of 4%.

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