Eleven Oaks Realty is proud to present their May 2019 Austin Real Estate Price Report measuring activity in the Austin single family home market.
Austin Median Home Price Up 8%
The biggest story this month: median home prices in Austin up again this month. The median price of an Austin home in May 2018 was $400,000 compared to $430,000 in May 2019, up 8% ($30,000) in year over year numbers. For another month, we’ve seen median price outpace the previous year. Median price increases have steadied, but are still on the upswing.
Median home price helps us see the distribution of homes sold and does not really give us an indication of the increase or decrease in a particular home’s market value. To analyze market value, we’d have to take an in depth look at a neighborhood. If you’re looking for something like that, please check out our Austin Home Values Report.
6% Increase in Time to Sell Home in Austin
In May 2019, it took 33 days to sell a home in Austin, on average, compared to 31 days in May 2018, marking a 6% increase in year over year numbers.
Number of Homes Taken Off the Market Down 17%
In May 2019, there were 172 homes taken off the market compared to 205 in May 2018. This marked a 17% decrease in year over year numbers.
If you need to sell and your home was priced right, maybe there was something else going on. The biggest culprits we see are incorrect info in the MLS and poor marketing. Check out our Austin Home Marketing Plan to see how your homes would be marketed.
Having trouble selling your home? Check out our Austin Home Not Selling resources page to find out why.
Number of Sold Homes in Austin Down 3%
Austin saw a 3% decrease in the number of homes sold from May 2018 to May 2019. In May 2019, we saw 1,283 homes sell in Austin compared to 1,320 in May 2018 marking a 3% decrease in year over year numbers.
16% Decrease in Austin Housing Inventory
In May 2019, we saw 1.8 months of inventory on the market, compared to 2.1 months of inventory in May 2018, showing a 16% decrease in year over year numbers.
Austin Homes Under Contract Down 1%
In May 2019, 1,275 homes went pending (under contract) in Austin compared to 1,282 in May 2018, marking a 1% decrease in year over year numbers.
10% Decrease in Number of Homes on the Market
In May 2019, we had 3,761 homes for sale in Austin, compared to 4,140 in May 2018, showing a 10% decrease in year over year numbers.
21% Decrease in Number of Homes Listed for Sale
In May 2019, we saw 1,384 homes introduced to the market compared to 1,751 in May 2018, marking a 21% decrease in year over year numbers.
Source: Clarus Market Metrics, ACTRIS Sold Data
May 2019 Austin Real Estate Price Report – Strictly Numbers
For those of you who prefer to see the actual numbers, we’ve included the figures for May 2019 Austin home sales below. The most expensive home that sold in May 2019 sold for $3,805,000 and the least expensive home sold for $110,000. Homes ranged in size from 616 sqft – 18,000 sqft with an average size of 2,3347 sqft. The average price per square foot for a home that sold in Austin in May 2019 was $238.88 with the lowest being $87.07/sqft and the highest being $750.11/sqft. It took, on average, 32 days to sell a home in Austin and sellers received, on average, 98.52% of their original list prices.
| Beds | Baths | SqFt | List Price | LP/SqFt | Sold Price | SP/SqFt | SP/LP | SP/OLP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Min | 1 | 1 | 616 | $115,000 | $92.06 | $110,000 | $87.07 | 69.04% | 59.20% | 0 |
| Max | 9 | 9 | 18,000 | $4,199,000 | $798.61 | $3,805,000 | $750.11 | 117.52% | 117.52% | 601 |
| Avg | 4 | 3 | 2,334 | $556,883 | $240.61 | $551,329 | $238.88 | 99.53% | 98.52% | 32 |
| Median | 3 | 3 | 2,088 | $425,000 | $206.12 | $430,000 | $207.50 | 100% | 99.58% | 8 |
| Search Criteria | |||
|---|---|---|---|
| Status | Sold | Sold Date | May-19 |
| Property Type | Single Family Homes | Number Sold | 1,301 |
| Source: | ABoR Sales Data | Area | Austin |
Questions About the Austin Real Estate Price Report?
Do you have questions about this Austin Real Estate Price Report? Call us at (512) 827-8323 or email us at info@11OaksRealty.com and we’ll help you in any way we can. If you’re looking to buy or sell Austin real estate, don’t forget to check out our Buyer Resources and our Seller Resources for more tips.
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