The median price for homes in the Austin area in December 2018 was $305,000. Last December the median sale price was $310,000, which shows a 1.61% decrease in property prices year over year. Fewer homes sold this December than last, but homes sold faster than they did in December 2017.
Buyer tip: In 2018, the Austin overall year over year increase was much higher; a 4.1% increase. Consider buying during December to lock in a reduced home price while capitalizing on the overall annual appreciation that Austin experiences.
Inventory of total available homes is still under 3 months. A balanced market should have 6 months of inventory, so we’re in a seller’s market. Buyers can likely expect higher competition due to the inventory shortage, while sellers can expect to encounter a larger pool of buyers.
December 30, 2018