February Austin Board of Realtors Stats

According to the Austin Board of Realtors, February is a great start to the spring selling season with Austin area Realtors® selling more homes than any other February on record. While Austin moves toward having a more balanced market, this still a seller’s market with only 1.4 months of inventory in the city of Austin itself and 2.3 months of inventory for the Austin area as a whole. Prices are holding steady and days on the market increase slightly. While the housing market is still very strong, housing affordability issues have given the housing market a chance to breathe and so houses are no longer selling for above asking price as sellers have seen in the past few years.

Houses in 78739 are selling for an average 96% of list price with only 1.1 months of inventory of both new construction and existing homes. In the 78721 area, which has seen an uptick in new construction, specifically detached condominium regimes, is enjoying selling 2.3 months of new construction condominium inventory at 96% of list price. The market in Austin appears to be holding steady and enjoying new growth as tech companies promise new jobs in the years to come. As transportation issues worsen, many are choosing to move closer to work rather than facing a every increasing commute. New businesses and expansions are looking to expand in areas where there is ample housing for its employees.

*Summary of ABOR stats Feb 2019. For more information visit: https://www.abor.com/statsfeb19/