The March market report is here! In the Austin area, the median price of single-family homes was $305,233, a 3.2% increase from last February. There have been more homes sold this March than last March, and homes are sitting on the market an average of 61 days.
Inventory of total available homes is just over two months, similar to last year. This is under the ideal amount of homes for sale in a balanced market. 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.
March 15, 2018