Easter Sunday pushed this post a few days late, but the February market report is here! In the Austin area, the median price of single-family homes was $290,900, a 1.36% increase from last February. There was a slight increase in the number of homes sold compared to last February.
Inventory of total available homes is still sitting at just under 2 months. This is under the ideal amount of homes for sale in a balanced market, but also is one of the slower months for buying and selling real estate. Buyers can likely expect rising home prices and higher competition due to the inventory shortage, while sellers can expect to encounter a larger pool of buyers as we near the summer months.
February 25, 2018